Axalta to Invest $50 Million in China Facility
June 3, 2013—Axalta Coating Systems recently announced it will invest more than $50 million to build a new facility in Shanghai, China, which will manufacture and supply up to 25,000 metric tons of auto paint for auto manufacturers that are expanding in south and central China.
Axalta said the plant will be dedicated to production of its waterborne coatings that meet both manufacturer and regulatory environmental standards. Construction of the facility is expected to break ground during the second half of 2013. Production at the facility is scheduled to begin during the first quarter of 2015.
“Our board’s decision to invest and grow with our customers reflects our long-term commitment to the auto industry in China and around the world. That’s what Axalta customer focus is all about. Proximity enables us to respond immediately to our customers’ needs,” said Charles Shaver, chairman and CEO of Axalta. “China’s expanding car production is a reflection of the nation’s fantastic economic growth. Axalta is excited to contribute to China’s success story. We know our coating systems make sense to manufacturers and the environment alike. We never forget that the colors and performance of our coatings also are part of the pleasure car owners receive when they buy a car. Axalta is proud to be able to play such a multifaceted role in China’s accomplishments.”
Axalta, which generates annual revenue of roughly $4.3 billion, currently operates 35 manufacturing plants, seven research and development facilities, and 42 training locations worldwide.