Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, has completed its acquisition of High Performance Coating Sdn. Bhd., a leader in refinish coatings in Southeast Asia. The acquisition will strengthen Axalta’s capability to serve refinish customers in the region with additional product offerings and an expanded sales and service network.
“The acquisition of High Performance Coating expands Axalta’s product portfolio further and will allow us to offer a much broader range of products and value propositions to our customers,” explained Sobers Sethi, Vice President of Axalta’s South and East Asia Region. “High Performance Coating joins Axalta at an exciting time as we celebrate 150 years of innovation, growth and leadership in the coating industry. Axalta’s technology and systems, coupled with High Performance Coating’s manufacturing, products and distribution network, will enable us not only to serve High Performance Coating’s current customers but also give us the opportunity to serve customers in other markets in the region.”
Established in 1996, High Performance Coating manufactures several well-known brands including HIPIC®, Nebula® and Marvel®.
“Moving forward, High Performance Coating will continue to retain its current products under its own brand names,” explained Sethi. “We will keep High Performance Coating nimble and flexible, in a position to respond quickly to customer requirements, but now that support will be backed by Axalta’s global refinish capabilities.”
Axalta operates extensively in all the markets in South and East Asia, serving customers in the refinish, light vehicle and commercial vehicle OEM segments, and a wide range of industrial end markets including the construction industry.