Axalta Coating Systems Completes Acquisition of Coil and Spray Coatings Manufacturer Dura Coat Products
PHILADELPHIA--(BUSINESS WIRE)-- Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, has completed its acquisition of a majority stake in Dura Coat Products, a leading manufacturer of coatings for metal coil and aluminum extrusion markets in North America. Financial terms of the transaction were not disclosed. Dr. Myung Ki Hong will remain Chairman and Chief Executive Officer of Dura Coat to ensure a smooth transition of the business.
Founded in 1986, Dura Coat has developed a leadership position in the market via its singular focus on overcoming customer challenges through innovation. Well-known Dura Coat brands include Durapon™, Ceranamel™ and the XT series of specialty coatings. Dura Coat’s innovative product lines have been formulated to suit a variety of building construction needs, general industrial applications, and treatment of aluminum extrusions.
About Dura Coat Products – Best Paint Solutions for You and the Environment
Since its entrepreneurial start in 1986 by chemist Dr. Myung Ki Hong, Dura Coat Products has grown into one of the industry’s most innovative resin and coatings companies. Today, Dura Coat research and development specializes in solving their customers’ most challenging paint problems and creating advanced paint systems in coil and spray coatings. Dura Coat stays committed to meeting unique and specific requirements with eco-friendly solutions that protect our environment and reduce our carbon foot print.
About Axalta Coating Systems – Celebrating 150 Years in the Coatings Industry
Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, beautiful and sustainable solutions. From light OEM vehicles, commercial vehicles and refinish applications to electric motors, buildings and pipelines, our coatings are designed to prevent corrosion, increase productivity and enable the materials we coat to last longer. With 150 years of experience in the coatings industry, the 12,800 people of Axalta continue to find ways to serve our more than 100,000 customers in 130 countries better every day with the finest coatings, application systems and technology. For more information, visit axaltacoatingsystems.com and follow us @axalta on Twitter and on LinkedIn.
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Axalta Coating Systems
Heather Marter, +1 215 255 7904
Heather.Marter@axaltacs.com
axaltacoatingsystems.com
Source: Axalta Coating Systems
Released August 1, 2016