Global Coatings leader Axalta has confirmed its decision to acquire innovative resin coatings maker Dura Coating Systems
News broke later last month of Axalta’s decision to acquire Dura Coat Products. Although the financial terms of the agreement have not yet been disclosed, the final figure is expected be in the hundreds of millions.
Axalta Coating Systems is a world leader in the supply of liquid and powder coatings. Dura Coat Products is a well known metal coatings manufacturer of for the coil industry. It seems to make good business sense but time will tell. The process of acquiring the business is expected to begin in September 2016 and should be complete by January 2019.
Dura Coat Products is celebrating 30 years in the coil spray industry. Company rands include Durapon™, Ceranamel™, Universal Primers and the XT series of specialty coatings. Dura Coat’s products are focused on building construction, general industrial applications and treatment of aluminum extrusions. Dr. Mike Hong has lead the business since it was founded in 1986. He has grown the resin and coatings business into an industry leader in innovation.
Dura Coat specialises in solving coating problems and developing new and advanced coil and spray coating systems. Like Axalta Coating Systems, Dura Coat Inc has strong environmental initiatives. It has continued its commitment to its eco-friendly policy with solutions that protect the environment and aid the reduction of its carbon foot print.
Dura Coat operates two state-of-the-art manufacturing plants in Riverside, California and in Huntsville, Alabama. Its products include Cool Roof, Energy Star and LEED 20 compliant.
Says Dr. Mike Hong, Dura Coat CEO:
All of us at Dura Coat are excited about the opportunity to become a part of the Axalta family. Axalta’s customer focus and global footprint will help open more doors for our products and will enable us to build on the successful legacy of Dura Coat. The strong commitment to technology that we share will enable us to continue to deliver innovative products and offer them to an ever expanding customer base.
Says Charlie Shaver, Axalta Chairman and CEO:
This is an exciting milestone in the evolution of both Axalta and Dura Coat. Dura Coat’s market-leading technology, strong company values, and commitment to customers are extremely well-aligned with Axalta’s priorities. With this partnership, we look forward to offering our combined customer base an even broader range of solutions to meet their requirements with the most innovative coil coating products and colors in the marketplace today.
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