Axalta Coating Systems Completes Acquisition of High Performance Coating in Southeast Asia
PHILADELPHIA--(BUSINESS WIRE)-- Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, has completed its acquisition of High Performance Coating Sdn. Bhd., a leader in refinish coatings in Southeast Asia. The acquisition will strengthen Axalta’s capability to serve refinish customers in the region with additional product offerings and an expanded sales and service network.
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From left: Mr. Sobers Sethi, Axalta Vice President, East and South Asia and Mr. Kee Seong Ng, Managing Director, High Performance Coatings completing Axalta’s acquisition of the High Performance Coatings. (Photo: Axalta)
“The acquisition of High Performance Coating expands Axalta’s product portfolio further and will allow us to offer a much broader range of products and value propositions to our customers,” explained Sobers Sethi, Vice President of Axalta’s South and East Asia Region. “High Performance Coating joins Axalta at an exciting time as we celebrate 150 years of innovation, growth and leadership in the coating industry. Axalta’s technology and systems, coupled with High Performance Coating’s manufacturing, products and distribution network, will enable us not only to serve High Performance Coating’s current customers but also give us the opportunity to serve customers in other markets in the region.”
Established in 1996, High Performance Coating manufactures several well-known brands including HIPIC®, Nebula® and Marvel®.
“Moving forward, High Performance Coating will continue to retain its current products under its own brand names,” explained Sethi. “We will keep High Performance Coating nimble and flexible, in a position to respond quickly to customer requirements, but now that support will be backed by Axalta’s global refinish capabilities.”
Axalta operates extensively in all the markets in South and East Asia, serving customers in the refinish, light vehicle and commercial vehicle OEM segments, and a wide range of industrial end markets including the construction industry.
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 better serve our more than 100,000 customers in 130 countries 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.
Source: Axalta Coating Systems
Released June 30, 2016