Axalta Coating Systems announced July 20th the acquisition of the automotive interior rigid thermoplastics coatings business of Michigan-based United Paint and Chemical Corporation. Production will temporarily remain at United Paint’s Southfield, Mich., facilities and will transfer to Axalta’s facilities in a phased manner. Financial terms of the transaction were not disclosed.
“United Paint’s interior rigid thermoplastics coating technology is a great fit for Axalta as we fulfill our commitment to provide our customers in the global vehicle manufacturing industry with a complete range of coating systems,” said Steven R. Markevich, Axalta executive vice president and president of Transportation Coatings and Greater China. “Vehicle interiors are a logical extension of the expertise we have developed to serve the growing automotive plastic components market as traditional materials are replaced by lightweight alternatives. Vehicle manufacturers will benefit by being able now to rely on Axalta as a single-source supplier of coatings for vehicle interiors as well as exterior surfaces.”
J. Geoff Piceu, CEO of United Paint, added, “We believe Axalta is an excellent long-term home for our automotive interior rigid thermoplastics coatings business. With its leadership position in the automotive exterior coatings market, its history of innovation, focus on customers and its global scale and reach, we are confident Axalta will allow the individuals, products and customers associated with this segment of our business to maximize their global potential.”
Founded in 1953, United Paint is a formulator and manufacturer of highly innovative coatings for automotive interior applications with approvals of its products by 25 of the world’s leading vehicle manufacturers. The divestiture of this segment of United’s business will allow it to continue a 63-year legacy of reinvestment in niche coating technologies.