Axalta Coating Systems to Acquire Plascoat Systems Limited
August 14 2017 - 7:00AM
Business Wire
Axalta Coating Systems (NYSE: AXTA), a leading global supplier
of liquid and powder coatings, announced today that it has acquired
Plascoat Systems Limited, a leading supplier of thermoplastic
powder coatings, from its parent company, International Process
Technologies (IPT) Ltd. Financial terms of the transaction were not
disclosed.
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Axalta acquires Plascoat. At the signing,
left to right, Keith Bilham (Group Finance Director, IPT Ltd),
Jeremy Stoke (Chairman, ITP Ltd), Matthias Schoenberg, Axalta Vice
President and President Europe, Middle East and Africa Region.
(Photo: Axalta)
Established in 1952, Plascoat has pioneered the science behind
the formulation, manufacturing, and application of thermoplastic
polyolefin coatings. Plascoat’s industry-leading product portfolio
includes Plascoat PPA 571, a flexible, tough and highly durable
plastic coating used for a wide variety of outdoor applications,
Talisman, a hard wearing, tough plastic coating used extensively in
the dishwasher basket coating market, and Plascoat PPA 571 Aqua, a
unique plastic coating for potable water pipes, in addition to many
other high performing coatings designed to meet the highest
industry standards.
“Over the last 65 years, Plascoat has led the way in developing
innovative, environmentally responsible coatings that meet the high
corrosion resistance demands of customers around the globe,” said
Michael Cash, Axalta Senior Vice President and President,
Industrial Coatings. “We look forward to bringing this knowledge
and expertise into Axalta to augment our existing thermoplastic
powder coatings business and provide even more innovative products
and solutions to our customers.”
“This is a great opportunity for Plascoat to grow as a business
and advance our offerings while joining a company that places great
value on their customers, new product development and impact on the
environment,” said Jeremy Stoke, Chairman, IPT Ltd. “We look
forward to our future with Axalta.”
As part of the transaction, Axalta will acquire both Plascoat
manufacturing facilities in Farnham, England and Zuidland,
Netherlands. For more information about the Plascoat Systems
Limited product portfolio, visit www.plascoat.com.
About Axalta Coating Systems
Axalta is a leading global company focused solely on coatings
and providing customers with innovative, colorful, beautiful and
sustainable solutions. From light OEM vehicles, commercial vehicles
and refinish applications to electric motors, buildings and
pipelines, our coatings are designed to prevent corrosion, increase
productivity and enable the materials we coat to last longer. With
150 years of experience in the coatings industry, the 13,600 people
of Axalta continue to find ways to serve our more than 100,000
customers in 130 countries better every day with the finest
coatings, application systems and technology. For more information
visit axalta.com and follow us @Axalta on Twitter and on
LinkedIn.
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Axalta Coating SystemsHeather MarterD +215 255
7904heather.marter@axaltacs.comaxaltacoatingsystems.com
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