Axalta Buys United Paint’s Automotive Coatings Business
US coatings company Axalta has acquired the automotive interior coatings business of Michigan-based United Paint and Chemical for an undisclosed sum. Steven Markevich, Axalta’s executive vice president, said United Paint’s interior rigid thermoplastics coating technology is a great fit and fulfils its commitment to provide global carmakers with a complete range of coating systems. “Vehicle interiors are a logical extension of the expertise we have developed to serve the growing automotive plastic components market as traditional materials are replaced by lightweight alternatives,” he added.
United Paint’s CEO Geoff Piceu said Axalta’s leadership position in the automotive exterior coatings market will allow the business to maximize its global potential. The company said the divestment of this part of the business means it can continue to reinvest in niche coating technologies. Production will remain temporarily at United Paint’s facilities in Southfield, Michigan, and will transfer to Axalta in a phased manner. The deal follows Axalta’s agreement last month to purchase Dura Coat, a California-based manufacturer of coil and spray coatings.
