Axalta to Increase Prices for Global Transportation Coatings

CLINTON TOWNSHIP, Mich., Nov. 9, 2018 /PRNewswire/ -- 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 minimize 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."  

About Axalta

Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. 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.com and follow us @axalta on Twitter.

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SOURCE Axalta