Axalta Completes U-POL Acquisition, Breaks Ground in China
Axalta Coating Systems has completed the acquisition of U-POL Holdings Limited. The acquisition of U-POL, a supplier of paint, protective coatings and accessories primarily for the automotive aftermarket, supports Axalta’s broader growth strategy, according to the company.
“The addition of U-POL’s team, industry expertise and operations strengthen our capabilities and provide a strong platform for future growth,” said Robert Bryant, Axalta’s chief executive officer. “We’ll work to make the integration of U-POL as seamless as possible, while maintaining high levels of service to our customers.”
U-POL’s portfolio of automotive refinishing products and accessories include fillers, coatings, aerosols, adhesives, and paint-related products as well as other automotive aftermarket protective coatings. Axalta says the addition of these offerings will expand its addressable market into the mainstream and economy refinish segments. Axalta says it will accelerate the growth of U-POL’s product portfolios by increasing market access through Axalta’s existing sales and distribution channels while leveraging U-POL’s distribution channels to extend the reach of Axalta’s refinish coatings portfolio to new customers.
In other Axalta news, Axalta Mobility broke ground for construction of a coatings facility in Jilin City, Jilin Province, North China. The 46,000-square-meter new plant will produce mobility coatings to support growing customer demand in China for light vehicles, commercial vehicles and automotive plastic components.
“Our new plant in Jilin is another building block supporting our ambitious growth strategy for our mobility business in China,” said Nicolas Franc de Ferrière, vice president, mobility, Asia Pacific, at Axalta.
The new plant is scheduled to open in 2023 and will mainly produce basecoats, primers and clearcoats used in Axalta’s eco-friendly processes such as high solids technology.