previous chevron_left Next chevron_right. This led to AkzoNobel announcing in April 2017 that it was considering either demerging the specialty chemicals business, or selling it, to appease activist investors. AkzoNobel was the target of a long-running hostile bid from PPG Industries in 2017, with investors Elliott Management pushing hard for the takeover. Contact. Axalta | 60,554 followers on LinkedIn. She will lead our current Industrial Coatings businesses globally, which include energy solutions, coil, wood, general industrial and powder coatings, and drive expansion into new industrial coatings markets," said Robert W. Bryant, Axalta's President and CEO. Paint Store Locator. © 2020 Endeavor Business Media, LLC. Glassdoor. The founding father of the automotive paint business is being laid to rest. Axalta seems to have decent stuff now a days, not as common as PPG yet around here. Earnings for Axalta Coating Systems are expected to grow by 47.90% in the coming year, from $1.19 to $1.76 per share. In 2017, Axalta and AkzoNobel explored a potential merger of the two global coatings companies. Before Carlisle, Bausch led the Industrial Coatings business for PPG from 2014 to 2017 and spent 25 years at Dow Corning Corporation in a variety of senior management and commercial roles. In early March, companies in the U.S. tried to get a handle on the financial impact of the pandemic, with 62% implementing cost-containment measures. Axalta's share price … If you don't allow cookies, you may not be able to use certain features of the web site including but not limited to: log in, buy products, see personalized content, switch between site cultures. Axalta is big in automotive coatings and competes with PPG in this area, while Akzo has more focus on interior coatings. AkzoNobel was the target of a long-running hostile bid from PPG Industries in 2017, with investors Elliott Management pushing hard for the takeover. Axalta may sell for $40 a share, based on the 15-times earnings multiple paid by Sherwin-Williams Co. for Valspar Corp. earlier this year, he said. The following drivers will help support a resurgence in manufacturing M&A activity: Changing political landscape: With the transition to a Biden administration, governmental regulation, higher income tax rates and a softened position on trade may be on the horizon. View original content to download multimedia:http://www.prnewswire.com/news-releases/axalta-coating-systems-announces-shelley-bausch-to-lead-global-industrial-coatings-business-301183109.html, COMTEX_375403286/2454/2020-12-02T08:30:18. Prior to the pandemic, companies were already considering ways they could diversify and lower their supply chain costs, and COVID-19 accelerated the need to do so. 2020 Was the Year of Grit. Axalta shares fell $0.51 or 1.69% Monday to $29.64. A behind-the-scenes look at how we created the 2019 Color Trends. Carlyle Group LP, which bought company from DuPont in February 2013, was open to bids alongside a planned initial public offering and investment bankers were pitching a deal to Akzo Nobel, the people said. In the first half of 2020,  manufacturing globally secured a total deal value of $26.2 billion, a 46% decline and 21% decline in deal volume when compared to the first half of 2019. In order to provide complete functionality, this web site needs your explicit consent to store browser cookies. Axalta and PPG are global leaders in waterborne coatings (water replaces oil-derived solvents as the liquefying agent), which have been taking share in Europe, North America and Asia. Axalta has posted two straight quarters of profit declines amid rising costs for paint ingredients. The Dutch company said Monday it’s in “constructive discussions” regarding a merger of equals with Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. A behind-the-scenes look at how we created the 2019 Color Trends. The news comes three months after reports emerged that the Philadelphia-based Axalta was looking … Increased SPAC activity will continue in 2021 with areas such as EV-charging infrastructure, power storage and 3D printing. A tie-up between Axalta and Akzo is “logical” given the rapidly consolidating coatings industry, Ghansham Panjabi, an analyst at Robert W. Baird & Co., said in a note about the latest move. In looking to the New Year, the challenges and uncertainty experienced in 2020 due to COVID-19 and the financial ramifications will likely continue into 2021. Investing in technology capabilities could increase machine-based manufacturing, improving efficiency and reducing the risk of operational disruptions like COVID-19. More recently, it was rumored that PPG was interested in acquiring the company, but nothing has come of it. Its corporate headquarters is located in Philadelphia, PA that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. Such efforts could open the door to more M&A opportunities. Axalta has a phenomenal Cash Return on Equity; nevertheless, with debt factored in, its CROTC is just 10.4%. At Carlisle, she has led the Asia Pacific region and the Fluid Technologies business unit. As the Dutch company takes steps to separate its chemical division, it’s struggling to fulfill pledges to boost profitability. But share prices for the company, sold by the DuPont Co. to Carlyle Group in 2013 and resold on the stock market the next year at a fat mark-up, have remained around $30, same as a week ago and well within the range that Axalta established in 2014-15, its first year as a public company. Companies in the individual leisure space such as recreational vehicles, outdoor furniture and sporting equipment are positioned for success as local lockdowns are announced. crashtech Combo Man. Shifting industry paths: As the pandemic forced shutdowns across the world, overall consumer spending and travel plummeted, leading to a softening of many industries. DuPont Performance Coatings, rooted in the dawn of the Automobile Age, now sports a new name after the completion of its $4.9 billion sale to The Carlyle Group on Feb. 1, the companies announced Monday (Feb. 4).. AkzoNobel is looking to pay close to no premium in any deal with Axalta, a person familiar with the matter said over the weekend. In February 2013, DuPont Performance Coatings was sold to the Carlyle Group and rebranded as Axalta Coating Systems LVP Paints is able to formulate paint to match Axalta Powder Coating colors for touch up application to prevent rust and to make scratches, hook marks, light spots, and items that can't be powder coating look new. More recently, it was rumored that PPG was interested in acquiring the company, but nothing has come of it. While global mergers and acquisitions have seen a recovery during the second half of 2020, the recovery in manufacturing has been relatively muted. Axalta Coating Systems is the leading provider of innovative products, services, and solutions designed to improve the efficiency and effectiveness of the vehicle refinish process. The company attributes the rapid increase in recent sales mainly to a strong global digitization trend. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. Axalta, a U.S. coatings company, has a roughly … The deal would combine the third- and fourth-ranked coatings manufacturers in a market that remains relatively fragmented, according to Bernstein analysts including Jeremy Redenius, who said it would make sense. Select a brand to browse the product catalog, or sign in if you are a registered distributor. PPG ultimately declined to make a hostile takeover bid for AkzoNobel. Reviews from Axalta Coating Systems employees about Axalta Coating Systems culture, salaries, benefits, work-life balance, management, job security, and more. The company, formerly a unit of DuPont, would complement Akzo’s product lines, Michael J. Harrison, an analyst at Seaport Global Securities, said in a note. Shares in paintings and coatings company Axalta Coating Systems fell 13.5% in February, according to data provided by S&P Global Market Intelligence. Axalta employs 14,000 at its plants and paint labs worldwide, including its new central research and development facility at the Navy Yard business center and its Americas offices in Glen Mills. As companies emerge from the pandemic, M&A activity in the sector will be fueled by access to emerging sources of capital, investment in innovation and the right-sizing of operations to meet new market demands of a post-pandemic world. Preparations are underway for either a spinoff or outright sale of the entire business, CEO Thierry Vanlancker said this month. Profitable industrial companies such as Axalta are typically sold at premium prices, encouraging investors who hanker for a piece of the action. Paul Elie is Industrial Products Deals leader, PwC US. Axalta Coating Systems in the UK are a leading manufacturer of industrial coatings of which Industrial Coatings Ltd are proud to be a select distributor for their products. Axalta, based in Philadelphia, makes automobile paints and coatings for auto parts. Complicating the tie-up talks with Axalta is AkzoNobel’s planned separation of its 5 billion-euro ($5.82 billion) revenue specialty chemicals business, a transaction pledged by the Dutch company as it battled against PPG. Pros. Reviews from Axalta Coating Systems employees about Axalta Coating Systems culture, salaries, benefits, work-life balance, management, job security, and more. COVID-19 has disrupted dealmaking, from scenario planning to investing, and preparing for a previously envisioned future, but deal activity in the first half of 2021 will continue to recover from sector lows seen during the peak of the crisis. SPACs have no commercial operations and are designed specially to raise money through initial public offerings (IPOs) to buy another company. The move to combine with Axalta comes as the clock counts down to Dec. 1, when Akzo Nobel’s rival-turned-suitor PPG could make another run for the company under Dutch takeover rules. The U.S. coatings manufacturer is the “ideal poison pill” that would make AkzoNobel “undigestable” for PPG, ING analyst Stijn Demeester said in a note, adding that any deal would have to overcome some hurdles in the companies’ valuations. Axalta, CDR, and Platinum Equity didn’t respond to a request to comment. Global Paint Color Trends. PPG said they don’t comment on rumors or speculation. Shares in paintings and coatings company Axalta Coating Systems fell 13.5% in February, according to data provided by S&P Global Market Intelligence. PHILADELPHIA, Dec. 2, 2020 /PRNewswire/ -- Axalta Coating Systems Ltd. (NYSE: AXTA) today announced that Shelley Bausch is joining Axalta as … In February 2013, DuPont Performance Coatings was sold to the Carlyle Group and rebranded as Axalta Coating Systems LVP Paints is able to formulate paint to match Axalta Powder Coating colors for touch up application to prevent rust and to make scratches, hook marks, light spots, and items that can't be powder coating look new. PPG offers paint color services and support to designers, painters, and architects. On Your Coatings Radar – California Lead Litigation Marathon Over On Your Coatings Radar – Axalta Once Again Enters the Acquisition Rumor Mill By mid-June, this figure jumped to 81%. But share prices for the company, sold by the DuPont Co. to Carlyle Group in 2013 and resold on the stock market the next year at a fat mark-up, have remained around $30, same as a week ago and well within the range that Axalta established in 2014-15, its first year as a public company. Axalta Coating Systems is the leading provider of innovative products, services, and solutions designed to improve the efficiency and effectiveness of the vehicle refinish process. Bloomberg reported last year Axalta drew interest from two rival firms, Kansai Paint Co. Ltd. and PPG Industries Inc. (NYSE: PPG). Copyright © 2020 MarketWatch, Inc. All rights reserved. Earlier this month, the company issued a second profit warning under new CEO Vanlancker, who was hastily ushered in as CEO in July after his predecessor resigned for health reasons. What We Know About the UK, EU Post-Brexit Trade Pact, Manufacturers Express Increased Optimism in Q4 NAM Survey, Tumult and Progress: The Impossible Success of an Impossible Year. Axalta Coating Systems is an American company specializing in coatings in a wide variety of industrial applications, materials and sectors, such as for example automotive paints. previous chevron_left Next chevron_right. PHILADELPHIA, Dec. 2, 2020 /PRNewswire via COMTEX/ -- Axalta could be valued at $49 a share, Seaport Global … Sep 22, 2019 ... Standox has gotten stupid expensive since Dupont sold out to Axalta. The loss of these sites was deemed by the Dutch government and unions as not in the interest of stakeholders during the battle with PPG. John Deere Reports Improving Markets in Positive Fourth Quarter Results, Bayer Battered by Further Roundup Costs, Brazilian Currency Depreciation, Ford Reports Strong Third Quarter as Demand for Trucks and SUVs Picks Up Again, 46% decline and 21% decline in deal volume, deal value and deal volume declined by a significant 40% and 28%, Webinar: Manufacturing 2021 - 4 Industry Trends to Watch and 3 Smart Moves to Make, Back to the Future: 7 Developments Shaping Automotive in 2021 and Beyond. Shifting Gears to Electric: What to Think about Now. Last edited: Sep 22, 2019. Learn More. You can also contact MarketWatch Customer Service via our Customer Center. She earned a B.S. AkzoNobel successfully rebuffed an unsolicited $29 billion buyout offer this year, coming under intense shareholder pressure in the process from activist investor Elliott Management Corp., which had pushed for tie-up talks. Price to Earnings Ratio vs. the Market. PPG and Axalta, two of the world’s ... industry has faced sustained criticism over its continued use of natural mica from Indian mines to produce makeup sold to … Axalta was seen as a possible target earlier this year. Axalta shares fell $0.51 or 1.69% Monday to $29.64. "I want to thank Dave Heflin for the strong results achieved during his interim stewardship of the Industrial portfolio, and I look forward to working with him as he continues to drive excellent results in our global liquid industrial business," continued Bryant. Axalta, a U.S. coatings company, has a roughly … Axalta, which has headquarters in Philadelphia, is the world’s largest maker of auto refinish paints, with a market value of $8.1 billion. PHILADELPHIA, Dec. 2, 2020 /PRNewswire/ -- Axalta Coating Systems Ltd. (NYSE: AXTA) today announced that Shelley Bausch is joining Axalta as Senior Vice President, Global Industrial Coatings, effective January 1, 2021. Sold by DuPont in 2013, Axalta supplies spray paint and metal treatments for automotive chassis. AkzoNobel, Sherwin-Williams, PPG, Axalta and BASF are the major manufacturer of antimicrobial coating. Paint Store Locator. Axalta's stock price reached $29.55 as of noon trading Wednesday, a more than 14.4% increase from its close on Tuesday. PPG offers paint color services and support to designers, painters, and architects. Price to Earnings Ratio vs. the Market. "Shelley is a dynamic leader with experience managing complex product portfolios sold into diverse and fragmented industrial end markets. Axalta's LTM revenue dropped 3.3%, while operating income increased by 4.14%. For more information, visit axalta.com and follow us @axalta on Twitter. Axalta could still decide not to sell itself and remain independent. Akzo Nobel didn't want to be be bought by PPG lndustries, so now the paints and coatings maker is trying to swallow Axalta. Consolidation is very much the name of the game in this industry, so I expect Axalta to be prominent pick on any list of targets. All rights reserved. Manufacturing end markets that have been hard-hit such as automotive and aerospace & defense will need to evaluate measures to maintain or improve their current positions. Philadelphia, makes automobile Paints and coatings of 2020, the Dutch company steps! 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