Charlie Shaver, Axalta Chairman and CEO (center), Sobers Sethi, Axalta Vice President, South and East Asia and Middle East and North Africa (MENA) Region (right), and Fadi Medlej, Axalta Managing Director of MENA (left) and others open Axalta MENA Regional Office in Dubai
Axalta Lays Strategic Foundation for Middle East Expansion
Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, has formally opened its regional office in Dubai’s Jebel Ali Free Zone Authority (JAFZA). Designed to expand its regional sales and customer service capability, Axalta’s investment responds to the region’s continued growth that is outperforming other global markets in automotive industry sales.
In addition to this strategic milestone in Axalta’s expansion in the Middle East and North Africa (MENA), the industry leader in refinish coatings also plans to commission a flagship regional Refinish Training Centre in Dubai by early 2017. The new facility will enable refinish technicians to hone their skills and learn how to maximize their use of Axalta’s refinish brands. Both the office and training center help commemorate the company’s 150th anniversary in the coatings industry.
“Our investment demonstrates our confidence in the region and our commitment to serve our regional customers with industry-leading coating solutions and services,” said Charlie Shaver, Chairman and CEO of Axalta, who formally opened the new Dubai office today. “Our strength in both transportation and industrial coatings will enable us to support the growth of consumer spending on vehicles and the rapid industrialization being witnessed across the region.”
With the United Arab Emirates topping global growth rates for new car sales during the first eight months of 2015, the wider Middle East car sales market is predicted to grow twice as fast as markets in North America and Western Europe between 2012 and 2022 according to Carmudi*, a regional automotive publication.
Forecasts of annual light vehicle sales among the member states of the Gulf Cooperation Council (GCC), the largest economic body in the Middle East, estimate a surge of 25 percent to nearly 1.75 million new car sales due to strong economic growth, private sector activity, low interest rates and government spending.
Added Shaver, “With our new facility, we will be more effective and efficient in building our brand and enabling our customers to maximize the benefits of our products, especially our industry leading waterborne coating systems. Our investment in the Middle East signals our expectation for additional business opportunities in this growing region of the world.”
Axalta is an industry leader in the development of products which reduce the environmental footprint from coatings. Waterborne coatings, other liquid coatings with low-to-zero volatile organic compound (VOCs) emissions and powder coatings with no VOCs or targeted hazardous air pollutants provide a number of options for customers. Axalta’s AquaEC® electrocoat and Voltatex® Energy Solutions products are available in tin- and formaldehyde-free formulations, respectively, while continuing to offer substrates strong protection against corrosion.
“As more customers adopt waterborne systems, they will complete their jobs faster and provide a better service to car users across the UAE and greater MENA region,” explained Fadi Medlej, Managing Director of MENA for Axalta. “Our coatings and application systems combine to offer environmentally responsible coating solutions which can help meet sustainability goals across the region, an increasingly important pillar of regional governments’ development policies.”
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 more than 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 on Twitter @axalta and on LinkedIn.