Axalta Acquires UAE-Based Powder Coatings Manufacturer
Axalta will expand its footprint in the Middle East and North Africa region, and add to their strong manufacturing base.
Axalta Coating Systems is acquiring Capital Paints, a United Arab Emirates-based thermosetting powder coatings manufacturer specializing in architectural powder coatings.
The transaction is subject to required regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of 2019. Financial terms of the transaction were not disclosed.
Sobers Sethi, vice president, Axalta Coating Systems and president, emerging markets.
“With this acquisition, Axalta will expand its footprint in the Middle East and North Africa region, and add to our strong manufacturing base, paving the way for future business growth in the region,” says Sobers Sethi, vice president and president, emerging markets of Axalta.
Sethi says the acquisition is in line with their business objective to provide better support and technical services to local customers in the oil/gas and architectural segments, while also helping Axalta enter other key markets in the Middle East region.
“Capital Paints customers will gain access to Axalta products and services that meet divergent needs, such as Nap-Gard for pipe coatings and Alesta for architectural coatings,” Sethi says.
Axalta is a manufacturer of liquid and powder coatings with about 14,000 employees working in 130 countries. Visit axalta.com
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