Axalta to Increase Prices for Global Transportation Coatings
Clinton Township, Michigan, USA – 14 November 2018 - Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, will initiate a global price increase for its Transportation coatings effective on December 1, 2018, or as contracts with customers permit. The increase will apply to light vehicle and commercial vehicle coatings.
"The decision to move forward with price increases for our Transportation coatings comes after we took every practical step to minimise the unparalleled impact that higher raw material costs have had on our Transportation business globally," said Steven R. Markevich, Axalta Executive Vice President and President, Transportation Coatings and Greater China. "We are experiencing increased costs virtually across the board with freight and logistics, packaging, and new tariffs also significantly contributing to a higher overall cost of doing business. As such, price increases are a necessity given the realities in our markets today."
Markevich continued, "As always, we remain committed to delivering world-class products and services to ensure the best outcomes for our customers now and for the long-term."
Axalta is a leading global company focused solely on coatings and providing customers with innovative, colourful, 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 more than 150 years of experience in the coatings industry, the 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.co.uk and follow us @Axalta on Twitter and on LinkedIn.