Philadelphia, PA/USA
www.axaltacoatingsystems.com
PUBLIC COMPANY; YEAR ESTABLISHED: 2013
REVENUE: $5.2 billion (2023: $4.9 billion)
MARKETS SERVED:
Automotive OEM; Collision repair; Industrial Coatings; Commercial Transportation
KEY EXECUTIVES:
Chris Villavarayan, CEO and president; Hadi Awada, SVP, Global Mobility Coatings; Shelly Bausch, SVP, Global Industrial Coatings; Troy Weaver, SVP, Global Refinish; Patricia Morschel, VP, global marketing and commercial ops; Demi Lin, VP, business development and strategic marketing; Lisa Gentile, global marketing and branding director; Robert Roop, SVP and CTO.
Axalta Coating Systems, a global supplier of coatings to the transportation and industrial sectors, posted sales of $5.2 billion for 2023. Axalta reported that 40% of sales were in EMEA, 39% in North America, Asia Pacific was 13% and Latin America was 8%. By segment Performance Coatings (refinish and industrial) comprised 65.7% of sales and Mobility Coatings (light vehicle and commercial vehicle) comprised 34.3% of sales.
The company has 47 manufacturing facilities located in 11 countries and employs 12,000 people. In November 2022 Axalta completed an immaterial bolt-on acquisition that has since operated within its Performance Coatings segment and is based in Europe.
Axalta’s key brands:
Axalta has a large color library and several well-known, long-standing premium brands, including Cromax, Standox, Spies Hecker, Syrox, and Raptor, as well as other regional and local brands.
Refinish includes Raptor, Dolphin, and Gold, among others. Its major Industrial brands include Imron Industrial, Tufcote Industrial, Corlar Industrial, Strenex Industrial, PercoTop, Voltatex, AquaEC, Durapon, Hydropon, UNRIVALED, and Ceranamel for liquid coatings and Alesta, Teodur, Nap-Gard, Abcite and Plascoat for powder coatings. The Mobility segment includes Harmonized Coating Technologies, including 3-Wet, Eco-Concept and 2-Wet Monocoat, that help its OEM customers lower costs by reducing energy consumption while increasing productivity. Its commercial vehicle brands include Imron, Imron Elite, Centari, Rival, Corlar epoxy undercoats and AquaEC, Irus Mix.
Axalta has entered into a definitive agreement to acquire The CoverFlexx Group from Transtar Holding Company for initial cash consideration of $285 million, plus an additional $10 million earnout based on the business’s 2024 performance. Closing is expected to occur in the third quarter and is subject to regulatory approval and other customary closing conditions.
The CoverFlexx Group manufactures and sells coatings for automotive refinish and aftermarket applications, focused on economy customers in North America. The business offers a wide range of primers, basecoats and clearcoats, as well as aerosols, fillers, bedliners, detailing products and paint shop accessories. Established brands of The CoverFlexx Group include Transtar Autobody Technologies, Pro Form and Aftermkt Armor products. The CoverFlexx Group had revenue of $78 million in 2023 with operations that include more than 120 employees and manufacturing and product development sites in Brighton, Michigan and Milton, Ontario.
2023 Success Stories:
Axalta Coating Systems has won three 2024 Edison Awards. Axalta Irus Mix won silver in the Environmental and Industrial Solutions category. Axalta’s Voltatex 7345 A ECO Wire Enamel and its Low Carbon Footprint Sustainable Coating System with Hyperdur Primer and Chromadyne Colorcoat won silver and bronze, respectively, in the Coatings and Manufacturing category. This is the sixth consecutive year that Axalta has won prestigious Edison Awards.
“We are honored again to be an Edison Awards™ recipient, as it reflects our company’s focus on innovation,” said Dr. Robert Roop, Axalta's chief technology officer. “These three remarkable solutions further showcase what our innovations can do for our customers. I want to recognize the entire Axalta team for their commitment to innovate smarter surface solutions for better living and a sustainable future."
Edison Awards winners were recently announced at the 37th annual Edison Awards event in Fort Myers, Fla. They were chosen as the “best of the best” within their respective categories by some of the world’s top senior business executives, designers, academics, and innovation leaders.
Axalta Irus Mix is the first fully automated, completely hands-free paint mixing machine that delivers highly accurate color, maximizing efficiency in a body shop. Axalta Irus Mix uses innovative packaging made from 50% recycled plastic with precise dosing lids that dispenses paint without waste, boosting profitability and providing sustainable benefits to Refinish customers.
Axalta’s Voltatex 7345 A ECO Wire Enamel is a cresol-free, low hazard insulating varnish for magnet wires in motors, transformers, generators and other electrical devices that drive electrification in many areas of daily life. This high-performance material is easy to process, reduces risk to workers and contributes to an improved carbon footprint.
Axalta’s innovative Low Carbon Footprint Sustainable Coating System with Hyperdur® Primer and Chromadyne® Colorcoat reduces energy consumption by up to 21% and decreases CO2 emissions by up to 5% or 17 Kg per unit produced. This novel, sustainable coating system provides manufacturing flexibility while maintaining superior appearance.
Named after Thomas Edison, the Edison Awards have recognized and honored some of the most innovative new products, services and business leaders in the world since 1987.
