AkzoNobel on October 30 issued a short statement on the topic, and added that its previously revealed plan to spin off its Specialty Chemicals business is proceeding as planned. The two companies could not reach an agreement with regard to a potential merger. For Akzo Nobel, the breakdown in the talks with Axalta marks the end of a difficult year in which it rejected a 26 billion euro ($30.5 billion) takeover offer from PPG Industries Inc, in favor of a standalone plan. The report covers the global Composite Coatings Market size in terms of value chain, production and consumption quota. Akzo said in a statement it would now continue to pursue that strategy of selling or seeking a stock market listing for its specialty chemicals division, which has an estimated value of up to 10 billion euros. AkzoNobel and Axalta Coating Systems confirmed that the companies are engaged in “constructive discussions” regarding a merger of AkzoNobel’s Paints & Coatings unit with Axalta. Axalta Coating Systems Ltd., the car-paint maker exploring a sale, has drawn preliminary interest from rival companies, according to people familiar with the matter. The deal would have created a … Axalta Coating Systems is a coatings company headquartered in Philadelphia, PA and incorporated in Bermuda that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. “However, we would focus on how the firm plans to execute an all-cash buyout, which would demand considerable capital,” the Tokyo-based analyst said. Mar 2018 – Present 2 years 5 months. Axalta Coating Systems Ltd., the car-paint maker exploring a sale, has drawn preliminary interest from rival companies, according to people familiar with the matter. The report considers 2017-2018 as historical years, … Axalta Coating Systems Investors Christopher Mecray, +1-215-255-7970 Christopher.Mecray@axaltacs.com or Media Robert Ferris, +1-215-255-7981 Rob.Ferris@axaltacs.com Site Navigation Home Axalta and Akzo Nobel said earlier on Tuesday they had ended negotiations about a “merger of equals” because they were unable to reach terms. Axalta Coating Systems to Acquire Valspar's North American Industrial Wood Coatings Business 4/12/2017 PHILADELPHIA --(BUSINESS WIRE)-- Axalta Coating Systems (NYSE:AXTA), a leading global supplier of liquid and powder coatings, announced today that it has entered into a definitive agreement with The Valspar Corporation (NYSE:VAL) and The Sherwin-Williams Company (NYSE:SHW) to acquire … Christopher Mecray - VP Investor Relations, Treasury & Strategy (215) 255-7970 christopher.mecray@axalta.com Thank you for subscribing, your information has been submitted successfully. Akzo Nobel confirmed the news via a press release minutes after our headlines and story ran. Meanwhile, Axalta posted a 20% drop in adjusted net income in the same period, amid lower volumes in North America. 134 reviews from Axalta Coating Systems employees about Axalta Coating Systems culture, salaries, benefits, work-life balance, management, job security, and more. Cleveland, Ohio – About six months after rejecting an unsolicited, $28.8 billion merger proposal from PPG, Dutch automotive paint supplier Akzo Nobel is considering merging with Axalta, the former paint division of DuPont.. Each restricted stock unit represents a contingent right to receive one common share of Axalta Coating Systems Ltd. 9. Axalta is a leading global coatings provider dedicated to the development, manufacturing, delivery, and service of liquid and powder coatings. Axalta Coating Systems Ltd. got hit hard by the coronavirus selloff, but has since recovered quite a bit of lost ground.The company is currently selling not too far from its initial public offering price in 2014. Axalta shares reversed losses in extended trading hours in New York after Reuters reported on Nippon’s offer, to trade up 3.3 percent at $35.01. Christopher Mecray - VP Investor Relations, Treasury & Strategy (215) 255-7970 christopher.mecray@axalta.com Nippon Paint shares fell 4.5 percent on Wednesday morning before trade was suspended in the wake of the Reuters report. Axalta Coating Systems Ltd. (NYSE:AXTA) went up by 2.10% from its latest closing price compared to the recent 1-year high of $31.26. The company is currently selling not too far from its initial public offering price in 2014. Akzo Nobel NV and Axalta Coating Systems Abandon Merger Talks – Source, Akzo and Axalta Fail to Agree Terms on Structuring Deal, Other Issues – Source, Akzo Nobel and Axalta Coating Systems Abandon Merger Talks. Axalta Coating Systems (NYSE: AXTA), a leading global coatings company, today confirmed that its previously announced talks with AkzoNobel have ended . The combination of the two companies could have boosted profit growth by lowering raw material costs, eliminating overlapping operations, expanding the combined entity’s products and adding new customers. Axalta first entered talks with Dutch rival Akzo Nobel in October 2017 over a potential $30bn merger between the two companies. Axalta Coating Systems (AXTA) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.33 per share. for-phone-only for-tablet-portrait-up for-tablet-landscape-up for-desktop-up for-wide-desktop-up Senior Business Analyst ARAMARK. Axalta, which has headquarters in Philadelphia, is the world’s largest maker of auto refinish paints, with a market value of $8.1 billion. Chesterton Company KC Jones Plating Company OM Sangyo. Axalta, which has headquarters in Philadelphia, is the world’s largest maker of auto refinish paints, with a … 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. Akzo Nobel NV and U.S. rival Axalta Coating Systems have abandoned their merger talks after failing to reach an agreement on terms around structuring the deal and other issues, according to a person familiar with the matter. About Axalta Coating Systems Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. Poeton Industries Ltd. Endura Coatings Twin City Plating Aztron Technologies LLc Nickel Composite Coatings Surteckariya. Axalta Coating Systems Ltd. is in merger discussions with AkzoNobel, a painting and coatings company based in Amsterdam with a presence in … AKZONOBEL, AXALTA IN MERGER TALKS AkzoNobel and Axalta Coating Systems have confirmed they are in talks to merge into a $30-billion per year manufacturing entity. The Osaka-based company has previously expressed a desire to expand in the United States and Europe to become a “global paint major”. The day after Axalta Coating Systems Ltd. said it called off merger talks with AkzoNobel, the Philadelphia company confirmed it has entered into … The offer was credible enough for Axalta to end negotiations with Akzo Nobel, the source added. Axalta, whose largest shareholder is Warren Buffett’s Berkshire Hathaway Inc, said it continued to pursue other “value-creating alternatives” although it did not disclose Nippon Paint’s role, if any, in the termination of the discussions. AXALTA COATING SYSTEMS LTD. : News, information and stories for AXALTA COATING SYSTEMS LTD. | Nyse: AXTA | Nyse Since PPG walked away in June, former Akzo Nobel CEO Ton Buechner and former CFO Maëlys Castella have resigned, citing health reasons, while Chairman Antony Burgmans is due to retire in April. Covid-19 has hit its sales quite severely with revenue down around 40% compared to the same quarter last year. Axalta Coating Systems Ltd. (NYSE: AXTA) announced that Jeremy Rohen is joining Axalta as Senior Vice President, Strategy and Business Development, effective January 18, 2021, and will report to Axalta’s President and CEO, Robert W. Bryant. Axalta Coating Systems (AXTA +17.5%) spikes following a Reuters report that Akzo Nobel (OTCQX:AKZOY) may have approached the company about a possible merger.A tie-up with AXTA - … Our Standards: The Thomson Reuters Trust Principles. Akzo Nobel and Axalta Coating Systems confirmed are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. Axalta Industrial North America, Houston, Texas. 16K likes. Akzo Nobel NV and U.S. rival Axalta Coating Systems Ltd. confirmed Monday they are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. All quotes delayed a minimum of 15 minutes. Akzo Nobel’s new CEO, Thierry Vanlancker, said in a statement on Tuesday the company remained focused on the strategy developed under Buechner and Burgmans. Reporting by Greg Roumeliotis in New York and Toby Sterling in Amsterdam; Additional reporting by Taiga Uranaka in Tokyo; Editing by Clive McKeef and Stephen Coates. By clicking submit, I agree to the Privacy Policy and Cookie Policy and I understand I will receive marketing communications from Dow Jones professional information products from which I may unsubscribe using the links provided. Axalta recently reported its second-quarter numbers. Now Akzo and Axalta face that challenge as separate companies at a time of rising raw material costs and sluggish demand. Akzo Nobel NV and Axalta Coating Systems Abandon Merger Talks. 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. Centerview Partners LLC acted as financial advisor to Axalta. Advertisement By Philadelphia-based Axalta is in the early stages of considering a deal with Akzo Nobel, and there is no certainty that the two companies will agree to a merger, one of the sources said on Friday. Email * The news comes after AkzoNobel refused overtures … See here for a complete list of exchanges and delays. Reuters reported Downtown-based PPG could partner with private equity firm Clayton, Dubilier & Rice to acquire Warren Buffett-backed Axalta. Investor Relations Contact. Axalta Coating Systems, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $1.11 billion for the quarter ended September 2019, missing the Zacks Consensus Estimate by 0.83%. On November 24, 2020, Axalta Coating Systems, LLC (the "Issuer"), an indirect, wholly owned subsidiary of Axalta Coating Systems Ltd. (the "Company"), issued $700.0 million in aggregate principal amount of 3.375% Senior Notes due 2029 (the "Notes"). Axalta Coating Systems Ltd. 3 Axalta – A Leader in Coatings Segments Performance Coatings 59% of Sales Transportation Coatings 41% of Sales End-Markets Focus Areas Body Shops Electrical Insulation, Architectural, Oil and Gas, General Industrial Net Sales1 $4,376 million Adjusted EBITDA1,2 $833 million Adjusted EBITDA Margin3 19.0% Light Vehicle / The deal, valued at approximately $420 million in cash, comes in connection with the reviews by the Federal Trade Commission and Canadian Competition Bureau regarding … Axalta provides coating solutions for commercial vehicles that are built to withstand even the harshest conditions. In a news release, Axalta officials say they are “engaged in discussions with AkzoNobel regarding a potential merger of equals transaction between Axalta and Akzo’s Paints & Coatings business. The firm does business in 130 countries, has nearly 13,000 employees, and has more than 100,000 customers. The failure of the talks comes days before Akzo Nobel’s shareholders are to meet on Nov. 30 to approve the demerger of its specialty chemicals arms. For Nippon Paint, an Axalta deal would help it crack open the U.S. market and boost earnings from automotive coatings, SMBC Nikko Securities analyst Shinobu Takeuchi wrote in a note to clients on Wednesday. About Axalta Coating Systems Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, Axalta Coating Systems (NYSE: AXTA) has made an agreement with The Valspar Corp. (NYSE: VAL) and The Sherwin-Williams Co. (NYSE: SHW) to acquire Valspar’s North American industrial wood coatings business. Axalta Coating Systems Ltd (NYSE: AXTA) shares were rising Wednesday on above-average volume after the company announced its intention to explore strategic options.. What Happened. NEW YORK/AMSTERDAM (Reuters) - Nippon Paint Holdings Co Ltd made an all-cash offer on Tuesday to acquire U.S. coatings company Axalta Coating Systems Ltd, two people familiar with the matter said, ending merger talks between Axalta and Dutch peer Akzo Nobel. However, PPG CEO Michael McGarry has indicated his company is no longer interested after Akzo Nobel spurned three offers in March and April. Jun 2013 – Jan 2018 4 years 8 months. Our liquid and powder coatings are designed to deliver maximum performance for medium and heavy-duty trucks, buses, trailers, emergency vehicles, and more. Industrial/Mergers & Acquisitions Analyst Axalta Coating Systems. PHILADELPHIA, Nov. 30, 2020 /PRNewswire/ -- Axalta Coating Systems Ltd. (NYSE: AXTA) today announced that Jeremy Rohen is joining Axalta as … AkzoNobel NV has called off its planned merger with Axalta Coating Systems Ltd - Get Report after that company confirmed mid reports that Japan's Nippon Paint … 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. Ben Dummett was first with the news that Akzo Nobel NV and U.S. rival Axalta Coating Systems were unable to agree on the terms of their structuring deal and subsequently ended merger talks, according to sources. AkzoNobel and Axalta Coating Systems confirmed that the companies are engaged in “constructive discussions” regarding a merger of AkzoNobel’s Paints & Coatings unit with Axalta. Investor Relations Contact. Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. Akzo Nobel and Axalta Coating Systems confirmed are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. Antimicrobial Coating Market Will Generate Massive Revenue In Future: Axalta Coating Systems, AkzoNobel, BASF, PPG Industries, RPM International, Sherwin-Williams. Akzo Nobel NV and U.S. rival Axalta Coating Systems have abandoned their merger talks after failing to reach an agreement on terms around structuring the deal and other issues, according to a person familiar with the matter. (RTTNews) - Responding to market speculation, Axalta Coating Systems (AXTA) Monday confirmed that it is engaged in discussions with AkzoNobel (AKZOY.PK, AKZOY) regarding a potential merger … Axalta Coating Systems said on Thursday that talks with Japan's Nippon Paint Holdings Co Ltd about a potential takeover of the U.S. coatings company have ended. Akzo Nobel NV and U.S. rival Axalta Coating Systems Ltd. are considering a possible merger of equals that would create a multibillion-dollar coating and paints giant, according to a person familiar with the matter. Breaking the story Ben Dummett was first with the news that Akzo Nobel NV and U.S. rival Axalta Coating Systems were unable to agree on the terms of their structuring deal and subsequently ended merger talks, according to sources. Axalta Coating Systems has acquired United Paint and Chemical Corp.'s automotive interior coatings business. Please fill in the required field. Industries ranging from automotive to mining use coatings to prevent corrosion and improve durability. Axalta will pursue such a transaction only if its Board of Directors determines that it is in the best interest of Axalta to do so. 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