Axalta Coating Systems

Axalta Coating Systems
Public
Traded as
Industry Coatings
Predecessor DuPont Performance Coatings
Founded 1866 (1866)
Headquarters Philadelphia, Pennsylvania, United States
Area served
 Worldwide
Key people
 Charles Shaver, (CEO and Chairman)[1]
Brands
  • Abcite
  • Alesta
  • AquaEC
  • Cromax
  • Imron
  • Spies Hecker
  • Standox
  • Voltatex
Number of employees
 12,650[2]
Website www.axaltacs.com/corporate/en_US.html

Axalta Coating Systems is a coatings company headquartered in Philadelphia, PA that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. The firm does business in 130 countries, has nearly 13,000 employees, and has more than 100,000 customers.[3]

Axalta first developed its products in 1866 for carriages before moving to automotive painting. Previously known as DuPont Performance Coatings, the company was rebranded as Axalta Coating Systems upon being purchased by The Carlyle Group in 2013.

The company was the sponsor of four-time NASCAR champion Jeff Gordon and the No. 24 Hendrick Motorsports car, a relationship which dated back to Gordon's first Sprint Cup Series race in 1992, and currently sponsors Gordon's teammate Dale Earnhardt Jr. and the No. 88 car.

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.[3]

Axalta Coating Systems was formed as DuPont Performance Coatings in 1922, based in Wilmington, Delaware.[4] In 2013, Axalta Coating Systems became an independent company with a new name and identity when it was acquired by the private equity firm The Carlyle Group from DuPont E.I. de Nemours where it was a division known as DuPont Performance Coatings.[5] On November 12, 2014, the firm completed its IPO on the New York Stock Exchange (NYSE: AXTA).[6]

On January 21, 2015, Axalta and Chinese industrial coatings firm Shanghai Kinlita Chemical formed a partnership to operate in China.[7] In April 2015, Berkshire Hathaway invested $560 million in Axalta Coating Systems.[8] In July 2016, the firm acquired United Paint and Chemical Corp.'s automotive interior coatings business.[9]

The company currently operates in North America, South America, Asia, Europe, the Middle East, and Africa.[10] The activities for Europe, the Middle East, and Africa region (EMEA) are based in Germany.[11] The company is also building a new research and development center located at the Philadelphia Naval Shipyard known as the Global Innovation Center.[12]

In 1953 Axalta 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.[3]

Products

Among Axalta's first products are Spies Hecker and Standox. In the 1990s, Axalta introduced Cromax, a water-based product, along with the industrial paints Nap-Gard, a powder coating for oil and gas pipeline companies, and Voltatex for electrical insulation.[3] Axalta also develops a variation of Cromax known as Cromax Mosaic. Other products made by Axalta include: Abcite, Alesta, AquaEC, Audurra, Centari, Challenger, Harmonized Coating Technologies, Imron, and Nason.[13]

Motorsports

Jeff Gordon's Cromax-sponsored car at Texas Motor Speedway in 2013

Axalta currently sponsors the No. 88 Hendrick Motorsports Chevrolet SS for NASCAR Sprint Cup Series driver Dale Earnhardt Jr.. Previously, the company sponsored four-time series champion Jeff Gordon, a relationship which dated back to Axalta's days as DuPont and Gordon's first Cup race in 1992. As of the 2016 Brickyard 400, Gordon has won three times in an Axalta-sponsored car, all of which were in 2014.[14] During Gordon's career, he ran variations of his Axalta scheme to promote its brands such as Cromax[15] and Standox.[16] On February 12, 2015, Gordon was hired by Axalta as a global business advisor.[1] In 2015, Axalta sponsored Xfinity Series driver Regan Smith's JR Motorsports Chevrolet Camaro for the Axalta Faster. Tougher. Brighter. 200 at Phoenix International Raceway; the company has been a partner of the team since 2008.[17]

Axalta provides paint for the entire Hendrick team, along with three other NASCAR teams: Camping World Truck Series' Kyle Busch Motorsports, JR Motorsports, and the Cup Series' Stewart-Haas Racing. IndyCar Series team Sarah Fisher Hartman Racing also receives paint from Axalta.[18] In addition to sponsoring Gordon, Axalta sponsors the June Cup Series race at Pocono Raceway, known as the Axalta "We Paint Winners" 400,[19] and the March Xfinity Series race at Phoenix International Raceway, called the Axalta Faster. Tougher. Brighter. 200.[20]

Axalta also sponsors snocross team Judnick Motorsport/Polaris Racing, who field riders Ross Martin and James Johnstad in the AMSOIL Championship Snocross series. The sponsorship lasts through 2017.[21]

In 2015, Axalta became the title sponsor of the C2 Team, which competes in Stock Car Brasil.[22] The team currently fields cars for Júlio Campos and Gabriel Casagrande.[23]

References

  1. 1 2 Pennell, Jay (February 12, 2015). "Jeff Gordon named Axalta global business advisor". Foxsports.com. Retrieved February 12, 2015.
  2. ↑ "Company Overview of Axalta Coating Systems Ltd.". Bloomberg Business. February 14, 2015. Retrieved February 14, 2015.
  3. 1 2 3 4 "Axalta celebrates 150 years in the coatings industry". European Coatings Journal. January 14, 2016. Retrieved July 27, 2016.
  4. ↑ "The Carlyle Group to Buy DuPont Performance Coatings Business for $4.9 Billion". The Carlyle Group. August 29, 2012. Retrieved February 1, 2015.
  5. ↑ Mider, Zachary; Kaskey, Jack (August 30, 2012). "Carlyle to Buy DuPont's Auto-Paint Unit for $4.9 Billion". Bloomberg L.P. Retrieved February 1, 2015.
  6. ↑ "Axalta raised $975M in IPO - Philadelphia Business Journal". Philadelphia Business Journal. Retrieved 2016-07-27.
  7. ↑ "Axalta, Kinlita Sign Deal". BodyshopBiz. January 21, 2015. Retrieved February 13, 2015.
  8. ↑ Gara, Antoine (April 7, 2015). "Warren Buffett Adds To Automotive Bets With $560 Million Axalta Investment". Forbes. Retrieved July 26, 2016.
  9. ↑ Froling, Blake (July 22, 2016). "Axalta acquires United Paint's automotive coatings business". Automative News. Retrieved July 26, 2016.
  10. ↑ "Axalta - appoint Dries Van den Burgh as Cromax brand manager for EMEA (Europe, Middle East and Africa)". ABP Club. February 9, 2015. Retrieved February 13, 2015.
  11. ↑ "Axalta opens expanded European Technology Centre in Germany". European Coatings Journal. July 10, 2016. Retrieved July 27, 2016.
  12. ↑ "Axalta Coating Systems will locate new Global Innovation Center in Philadelphia". European Coatings Journal. September 16, 2015. Retrieved July 27, 2016.
  13. ↑ "AXALTA COATING SYSTEMS LTD." (PDF). Axalta Coating Systems. December 31, 2015. Retrieved July 27, 2016.
  14. ↑ "NASCAR Sprint Cup Results (wins)". Racing-Reference. Retrieved December 17, 2014.
  15. ↑ Boarman, John (March 30, 2013). "Jeff Gordon CroMax Pro paint scheme unveiled". Tireball. Retrieved July 27, 2016.
  16. ↑ Boarman, John (August 30, 2013). "Jeff Gordon sporting Axalta Standox paint scheme at Michigan". Tireball. Retrieved July 27, 2016.
  17. ↑ "JR Motorsports and Axalta Teaming Up for Phoenix Race". JR Motorsports. March 5, 2015. Retrieved March 5, 2015.
  18. ↑ "The Cars". Axalta Racing. Archived from the original on February 15, 2015. Retrieved January 18, 2015.
  19. ↑ "Axalta to sponsor June Sprint Cup Series race at Pocono Raceway". Foxsports.com. January 27, 2015. Retrieved January 29, 2015.
  20. ↑ Sunnucks, Mike (February 10, 2015). "Longtime Jeff Gordon sponsor takes naming rights for Saturday Nascar race at PIR". Phoenix Business Journal. Retrieved February 11, 2015.
  21. ↑ "Axalta Sponsors Polaris Racing & Judnick Motorsports in AMSOIL Championship Snocross Series". Yahoo! Finance. August 28, 2014. Retrieved February 1, 2015.
  22. ↑ "Axalta terá equipe representado suas cores na Stock Car" (PDF). Axalta Coating Systems (in Portuguese). March 17, 2015. Retrieved July 29, 2016.
  23. ↑ "Stock Car – Axalta C2 Team confirma Julio Campos e Gabriel Casagrande para 2016" (in Portuguese). Auto Racing. November 8, 2015. Retrieved July 29, 2016.

External links

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