YEAR ESTABLISHED: 2013
REVENUE: $4.36 billion s (2013: $4.3 billion)
• Automotive OEM • Collision repair • Industrial Coatings • Commercial Transportation
Charles. W. Shaver, chairman and CEO; Robert Bryant, EVP and chief financial officer; Nigel Budden, VP, North America region; Michael Cash, SVP and president, Industrial Coatings; Jorge Cossio, president, Latin America region; Michael F. Finn, SVP and general counsel; Otmar Hauck, COO, Europe, Middle East and Africa region; Martin Horneck, SVP and chief procurement and logistics officer; Peter Hurd, SVP, operations and supply chain; Luke Lu, VP and president, China; Steven Markevich, SVP and president, OEM Coatings; Joseph F. McDougall, SVP and chief human resources officer; Rajeev S. Rao, VP, strategy and business development; Sobers Sethi, VP, South and East Asia region; Barry S. Snyder, SVP and CTO; Aaron D. Weis, VP and CIO.
Axalta Coating Systems is a global supplier of coatings to the transportation and industrial sectors. The company posted sales of $4.36 billion for 2014. Transportation Coatings (light vehicle OEM and commercial vehicles) comprised $1.78 billion of sales and Performance Coatings (industrial and refinish) comprised $2.59 billion. The company currently employs approximately 12,600 people and has 12 locations in Asia-Pacific, nine in Europe, Middle East and Africa, seven locations in North America and seven locations in Latin America (including Mexico) – producing liquid or powder coatings.
The year 2014 saw a number of milestones for Axalta. “None stands out more than our IPO on November 12,” said Michael Cash, SVP and president, Industrial Coatings. “Our decision to go public reflected our confidence in our business, our customers’ commitment to our products and services, and the technology that will serve us in the future. A key strategy in response to our customer commitment was a series of investments made in 2014 that would position us to serve our customers in the years to come. In China, we broke ground to expand capacity to produce waterborne paint. The expanding footprint of OEMs in southern and western China coupled with regulations that require new manufacturing plants to use waterborne coatings created a clear opportunity to enhance our ability to meet anticipated customer demand. In Germany, we began construction to increase waterborne coatings for both OEM and refinish customers across the region. We continued our expansion plans at our operations center in Guarulhos, Brazil. Construction began in Mexico to expand capacity to produce resins for transportation coatings.”
By Michael Cash, Senior Vice President and President, Industrial Coatings
Axalta is setting the pace for the major trends in the coatings industry from the development of formulations designed to meet specifications demanded by the newest light weight composite vehicle substrates to low-VOC and waterborne coatings designed to meet, and exceed, the latest environmental regulations. In addition to meeting the challenges of the vehicle coatings markets, the end-markets served by Axalta’s industrial coatings present exciting opportunities for a number of our brands.
Increasingly, to meet growing demand, industrial products are being developed on a global R&D basis even if production occurs at a local level. In 2014, Axalta took significant steps to reposition our portfolio for growth with two key strategic directions in order to position ourselves much more closely to our customers and match their global footprint.
First, we leveraged brands that were well established in one region and launched them on a global scale. To meet market growth in the global architectural arena, we began the roll out of the Alesta Global Color Collection on a truly global scale, and we expanded the reach of Abcite thermosetting coatings with a product launch in China. The demand for electrical insulation products also is expected to see growth to support both the demand for large scale power generating equipment and the increased use of batteries in hybrid and all electric vehicles. We introduced Voltatex electrical insulation products in China.
Second, and to complement the globalization of existing brands, we repositioned and added products to some of our existing franchises. We introduced AquaEC as the new name for our existing portfolio of anodic and cathodic electrocoat products. We also added Alesta ZeroZinc to our family of Alesta powder coatings as a product with a reduced environmental footprint. We introduced a next generation C5 electrical steel varnish - Voltatex 1250V. We also launched Voltatex 1262 for special applications in large hydro and turbo generators where no formaldehyde degassing is desired.
Meeting global customer demand and trends will always be one of the driving strategies at Axalta and enable us to ensure that we are delivering on our promise to our customers. Our goal is to provide the most innovative coating solutions and work closely with our customers to provide consistent and top-quality service in every part of the world. Our efforts in 2014 have positioned us well to meet our customers’ growing requirements and growing demand around the world in the years ahead.