Axalta Completes Acquisition of UAE-Based Capital Paints
Acquisition of powder coatings manufacturer expands Company’s footprint in MENA region
DUBAI, UAE – 26 Nov. 2019 – Axalta (NYSE: AXTA), a leading global supplier of liquid and powder coatings, today announced that it has completed the acquisition of Capital Paints LLC, a UAE-based thermosetting powder coatings manufacturer. Capital Paints will operate as one of three Axalta powder manufacturing facilities in the Emerging Markets Region, with the others located in Malaysia and Indonesia.
“This is an exciting milestone for Axalta,” said Mr. Sobers Sethi, President of Emerging Markets at Axalta. “Having a powder coating manufacturing base in the MENA region creates a significant opportunity for us to bring our powder coating technologies to our customers in the oil and gas and architectural segments. With our industry-leading products, services and technology in powder coatings, we are well positioned to serve our customers and help them grow their businesses.”
As a global leader in the powder coatings market, with leading brands such as Nap-Gard® for pipe coatings and Alesta® for architectural coatings, Axalta's powder products are widely used in a variety of end applications which demand high-quality standards including automotive and transportation, high-end architectural applications, oil and gas pipelines, rebar, appliances, general industrial and many other segments.
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 approximately 14,000 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 axalta.com and follow us @axalta on Twitter and on LinkedIn. .