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Axalta

#2037

Rank

$7.72B

Marketcap

US United States

Country

Axalta
Leadership team

Mr. Rakesh Sachdev (Pres, Interim CEO & Director)

Mr. Sean M. Lannon (Sr. VP & CFO)

Mr. Brian A. Berube (Sr. VP, Gen. Counsel & Corp. Sec.)

Products/ Services
Industrial, Manufacturing, Sustainability
Number of Employees
1,000 - 20,000
Headquarters
Glen Mills, Pennsylvania, United States
Established
1866
Company Registration
SEC CIK number: 0001616862
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
AXTA
Social Media
Overview
Location
Summary

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops. It also provides functional and decorative liquid, and powder coatings used in various industrial applications, including architectural cladding and fittings, automotive coatings, general industrial, job coaters, energy solutions, HVAC, appliances, industrial wood, coil, and oil and gas pipelines; and coatings for building materials, cabinet, wood and luxury vinyl flooring, and furniture market under the Voltatex, AquaEC, Durapon, Hydropon, UNRIVALED, Tufcote, and Ceranamel for liquid coatings; and Alesta, Nap-Gard, Abcite, Teodur, and Plascoat brands for powder coatings. In addition, the company develops and supplies electrocoat, primer, the basecoat, and clearcoat products for OEMs of light and commercial vehicles; and coatings systems for various commercial applications, including HDT, bus, and rail under the Imron, Imron Elite, Centari, Rival, Corlar epoxy undercoats, and AquaEC brands. It also sells its product under the Audurra, Challenger, Chemophan, ColorNet, Cromax, Cromax Mosaic, Durapon 70, Duxone, Harmonized Coating Technologies, Imron ExcelPro, Lutophen, Nason, Spies Hecker, Standox, Stollaquid, Syntopal, Syrox, Raptor, U-POL, and Vermeera brand names. The company was formerly known as Axalta Coating Systems Bermuda Co., Ltd. and changed its name to Axalta Coating Systems Ltd. in August 2014. Axalta Coating Systems Ltd. was founded in 1866 and is headquartered in Philadelphia, Pennsylvania.

History

 

The firm's first products were developed in Germany in 1866 to protect carriages from the gravel of dirt roads. In 1920, the company created a quick-drying, multi-color lacquer line for automotive painting. Operating as Herberts Gmbh, the company grew under Kurt Herberts, introducing the popular automobile finish Standox in 1955.In 1999 Herberts merged with DuPont Automotive Finishes, a transport coating systems technology company that had been started in 1922 in Wilmington, Delaware, to form DPC. In 2012, the private equity firm The Carlyle Group announced its plans to purchase and discontinue DPC. The Carlyle Group completed the sale in February 2013 and founded Axalta. On November 12, 2014, the firm completed its IPO on the New York Stock Exchange .On January 21, 2015, Axalta and Chinese industrial coatings firm Shanghai Kinlita Chemical formed a partnership to operate in China. In April 2015, Berkshire Hathaway invested $560 million in Axalta Coating Systems. In July 2016, the firm acquired United Paint and Chemical Corp.'s automotive interior coatings business.The company currently operates in North America, South America, Asia, Europe, the Middle East, and Africa. The activities for Europe, the Middle East, and Africa region are based in Basel, Switzerland. On November 7, 2018, the company held its grand opening of a new research and development center located at the Philadelphia Naval Shipyard known as the Global Innovation Center. Axalta's Global Innovation Center is the largest coatings research and development center in the world.In 1953 Axalta predecessor DuPont published the first annual Color Popularity Report, the first in the industry to have extensive global data in one report. The firm developed L,a,b color equations, an important component of modern color science. It introduced the first waterborne electrical steel coating in the industry in the 1960s.In October 2017, AkzoNobel approached competitor Axalta Coating Systems over a potential combination. Nippon Paint Holdings Co. attempted to buy the company in November 2017, but the deal failed to reach an agreement.On August 17, 2021 Berkshire Hathaway sold its entire stake in Axalta Coating Systems.

Mission

Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, beautiful and sustainable solutions

Vision

Our values are a commitment we make to ourselves and to all of our stakeholders. The languages and cultures in which we do business differ but the values we share as a global company remain the same.

Key Team

Ms. Jacqueline D. Scanlan (Sr. VP & Chief HR Officer)

Ms. Shelley J. Bausch (Sr. VP of Global Industrial Coatings)

Dr. Keith C. Silverman Ph.D. (Sr. VP and Chief Operations & Supply Chain Officer)

Dr. Robert Roop (VP & CTO)

Mr. Ashish Jawadiwar (VP and Chief Information & Digital Officer)

Dr. Christopher Mark Evans Ph.D. (VP of Investor Relations)

Ms. Tabitha Oman (VP, Deputy Gen. Counsel & Chief Compliance Officer)

Recognition and Awards
Axalta was recognized by Automotive News as one of the 100 Best Global Suppliers for 2019. Additionally, Axalta was recently named the 2019 Automotive Paint Supplier of the Year by Collision Repair magazine. Axalta has also been recognized as one of the World's Most Ethical Companies by Ethisphere, and won the 2016 Automotive News PACE Award.
References
Axalta
Leadership team

Mr. Rakesh Sachdev (Pres, Interim CEO & Director)

Mr. Sean M. Lannon (Sr. VP & CFO)

Mr. Brian A. Berube (Sr. VP, Gen. Counsel & Corp. Sec.)

Products/ Services
Industrial, Manufacturing, Sustainability
Number of Employees
1,000 - 20,000
Headquarters
Glen Mills, Pennsylvania, United States
Established
1866
Company Registration
SEC CIK number: 0001616862
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
AXTA
Social Media