DuPont Performance Coatings to Undergo Name Change
Feb. 4, 2013—DuPont Performance Coatings, the global supplier of coatings to the transportation and industrial sector, is being renamed Axalta Coating Systems after being acquired by alternative asset manager The Carlyle Group for $4.9 billion.
“We are excited to invest in Axalta Coating Systems and believe its strong market position and global footprint will enable the company to capitalize on opportunities in rapidly emerging markets such as China and Brazil,” said Martin Summer, principal of The Carlyle Group. “As experienced investors in the industrial and transportation sectors, the One Carlyle global network can help Axalta Coating Systems grow and create value.”
As an independent company, Axalta Coating Systems serves more than 120,000 customers in 130 countries and provides customers with a full range of coating systems.
Axalta Coating Systems will continue to do business as DuPont Performance Coatings for the next several months until the new name is formally launched during the second quarter of 2013. A beta website for Axalta Coating Systems is currently under development. The website, axaltacoatingsystems.com, will include information about the company's products and services.
“We look forward to this exciting next chapter for Axalta Coating Systems," said Charlie Shaver, chairman and CEO of Axalta Coating Systems. "Our global scale with 35 plants and seven technology centers around the world, combined with Carlyle’s industrial focus and global network, position us well for the future.”
