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Axalta Coating Systems Ltd. manufactures, markets, and distributes high-performance coatings systems for vehicle, refinish, and industrial applications. Recurring news covers operating and financial results, capital-structure and governance updates, material-agreement disclosures, product introductions such as the Zencore™ cabinet coating system built on Zenamel™ technology, and automotive color research, including global color popularity reports and Color of the Year announcements.
The company organizes its business around Performance Coatings and Mobility Coatings, with coating applications spanning light vehicles, commercial vehicles, electric motors, building facades, and other industrial uses where corrosion prevention, durability, and production efficiency are central product functions.
Axalta (NYSE: AXTA) was honored as a 2021 Supplier of the Year in the paint category by General Motors during its 30th annual awards ceremony held in Phoenix, Arizona. The award recognizes suppliers who exceed GM's requirements, promoting innovative technologies and high quality in the automotive sector. Axalta has been a paint supplier to GM for over 100 years, and this recognition emphasizes its resilience during the challenging supply chain issues exacerbated by the pandemic. GM acknowledged 134 suppliers globally this year, highlighting commitment to sustainability and innovation.
Axalta Coating Systems (NYSE: AXTA) reported its Q4 and full-year 2021 financial results, highlighting a 5.8% increase in net sales to $1,137.2 million for Q4, driven by Performance Coatings despite ongoing supply chain issues in Mobility Coatings. Income from operations fell to $94.7 million from $163.2 million year-over-year, impacted by cost inflation and lower Mobility volumes. Full-year net sales rose 18.2% to $4,416.2 million, with a diluted EPS of $1.14. Axalta aims to address inflation impacts and expects continued demand growth across its business lines in 2022, alongside significant sustainability commitments.
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Axalta Coating Systems (NYSE: AXTA) has appointed Dr. Keith Silverman as the new Senior Vice President & Chief Operations and Supply Chain Officer, effective immediately. Dr. Silverman brings extensive experience from roles in operational leadership at Ashland Global Holdings and Merck & Co. He holds a PhD in Environmental Science and Chemistry and is recognized for his commitment to safety and sustainability in operations. Axalta aims to leverage his expertise to enhance operational efficiency and customer satisfaction in its global coatings business.
Axalta, a global leader in coatings, will release its fourth-quarter and full-year 2021 financial results on January 31, 2022. The results will be available on the Investor Relations section of axalta.com. The company will host a conference call on February 1, 2022, at 8 a.m. EST to discuss the financial performance, featuring CEO Robert W. Bryant and CFO Sean Lannon. A webcast will be available at www.axalta.com/investorcall.
Axalta, a top supplier of coatings, announced that its Radar Transmission Simulator (ARTS) with Color Palette Optimizer for Autonomous Vehicles won a 2022 BIG Innovation Award. This recognition highlights Axalta's commitment to innovation in coating formulations that enhance radar compatibility without sacrificing aesthetics, crucial for advanced driver assistance systems. The award signifies a milestone in Axalta's technology development journey, reinforcing its position in the coatings industry.
Axalta Coating Systems (NYSE: AXTA) has announced its Global Automotive Color of the Year 2022, named Royal Magenta. This deep cherry color features a luxurious finish with berry red highlights, optimized for all vehicle types and enhancing the mobility palette. The color incorporates innovative, environmentally-friendly technologies, aligning with trends towards sustainability and electric vehicle design. Axalta aims to lead future color trends with advanced formulations and insights into global preferences.
Axalta Coating Systems Ltd. (NYSE:AXTA) released preliminary financial updates for Q4 and FY 2021, revealing a 5.8% sales growth in Q4 and an 18.2% increase for FY 2021. However, raw material inflation exceeded expectations at 24%, impacting overall profit margins. Adjusted EBIT for Q4 is projected at $120-125 million, with FY 2021 expected to fall approximately $30 million below prior forecasts of $645-665 million. Despite challenges, Axalta anticipates recovery in 2022 driven by strong demand, though inflationary pressures remain a concern.
Axalta (NYSE: AXTA) has released its 69th annual Global Automotive Color Popularity Report, revealing that white remains the most popular vehicle color at 35%, followed by black and gray at 19% each. Notably, gray's popularity increased by 4 percentage points globally. The report highlights a decline in white vehicles, down 3% from previous years, particularly influenced by a significant 7% drop in China. The automotive market faced challenges in 2021 due to semiconductor chip shortages affecting vehicle production, impacting consumer preferences for colors.
Axalta announced the launch of Imron® Industrial Ultra 2.8 VOC Topcoat aimed at the agriculture, construction, and earthmoving equipment sectors. This enhanced urethane topcoat features low VOC emissions and quicker curing times compared to conventional products. It can be applied over epoxy and urethane undercoats and offers double the pot life, reducing material waste. The product also meets stringent industry weathering and performance standards, indicating Axalta's commitment to innovation and durability in coating solutions.