Industry News

Axalta to Acquire Dura Coat Products, a Manufacturer of Metal Coil Coatings

Published on 2016-06-28. Author : SpecialChem

Axalta Coating Systems, one of the leading global suppliers of liquid and powder coatings, announced that it has entered into a definitive agreement to acquire Dura Coat Products, a prominent manufacturer of coatings for metal coil and related markets in North America. Pursuant to the agreement, Axalta will initially purchase a majority stake in Dura Coat at the closing which is expected to occur in the third quarter of 2016 and the remaining outstanding shares by January 2019, subject to required regulatory approvals and other customary closing conditions. Financial terms of the transaction were not disclosed.

Fig. 1: Axalta to Acquire Dura Coat Products,
a Manufacturer of Metal Coil Coatings

Expanding Market for Metal Coil Coatings and Related Markets

Founded in 1986, Dura Coat has developed one of the leadership positions in the market via its singular focus on overcoming customer challenges through innovation. Well-known Dura Coat brands include Durapon™, Ceranamel™ and the XT series of specialty coatings.

Dura Coat’s product lines have been formulated for:

  • Building construction needs.
  • General industrial applications.
  • Treatment of aluminum extrusions. 

Dura Coat takes great pride in its strong environmental initiatives which it achieves through sound manufacturing practices and with products that have eliminated or reduced hazardous air pollutants. Its products are Cool Roof, Energy Star and LEED 29 compliant. Dura Coat operates two state-of-the-art coatings manufacturing plants in Riverside, California and Huntsville, Alabama.

Axalta Chairman and CEO Charlie Shaver explained:

This is an exciting milestone in the evolution of both Axalta and Dura Coat.

Dura Coat’s market-leading technology, strong company values, and commitment to customers are extremely well-aligned with Axalta’s priorities. With this partnership, we look forward to offering our combined customer base an even broader range of solutions to meet their requirements with the most innovative coil coating products and colors in the marketplace today.

Axalta is familiar with the marketplace for the types of coil sheets which benefit from Dura Coat products. Axalta has offerings complementary to those served by Dura Coat, including global brands Alesta® and Abcite® powder coatings, AquaEC™ electrocoat products, and Imron® Industrial coatings which each provide customers in the construction, architectural, and general industrial sectors with durable coatings formulated to protect, increase productivity, and add beauty.

Dr. Myung K. Hong, founder, President and Chairman of Dura Coat explained:

All of us at Dura Coat are excited about the opportunity to become a part of the Axalta family.

Axalta’s customer focus and global footprint will help open more doors for our products, and will enable us to build on the successful legacy of Dura Coat. The strong commitment to technology that we share will enable us to continue to deliver innovative products and offer them to an ever expanding customer base.

About Dura Coat Products

Since its entrepreneurial start in 1986 by chemist Dr. Myung K. Hong, Dura Coat Products has grown into one of the industry’s most innovative resin and coatings companies. Dura Coat research and development specializes in solving their customers’ most challenging paint problems and creating advanced paint systems in coil and spray coatings. Dura Coat stays committed to meeting unique and specific requirements with eco-friendly solutions that protect its environment and reduce its carbon foot print.

About Axalta Coating Systems

Axalta is one of the leading global companies 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, its coatings are designed to prevent corrosion, increase productivity and enable the materials it coat to last longer. With 150 years of experience in the coatings industry, the 12,800 people of Axalta continue to find ways to serve its more than 100,000 customers in 130 countries better every day with the finest coatings, application systems and technology.

Source: Axalta Coating Systems

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