Axalta Coating Systems (NYSE: AXTA), the world’s leading supplier of liquid and powder coatings, will expand its operations in Greater China in response to the sharp increase in raw material costs. Product price increases. The price increase will affect certain refinish and industrial coatings as well as light and commercial vehicle manufacturers. Specific price increase arrangements will be communicated directly to relevant customers.
“Pricing pressure resulting from rising raw material costs reflects factors beyond our control, including a lack of sources of feed materials, increasingly stringent regulatory requirements and the ability to meet our high quality standards Lack of suppliers, etc.,” said Steven Markevich, executive vice president of Axalta Coating Systems and president of the Transportation Coatings Division and Greater China.
“We have been absorbing the rising raw material costs ourselves for the past few months, but now we need the support and help of our customers to share some of the rising raw material costs. We This is needed to ensure that Axalta can continue to provide customers with the products, services and technologies they need to continue to support their business growth.” said Michael Cash, senior vice president and president of Axalta’s Industrial Coatings Division.
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