01 Aug, 2018, 08:30 ET
BASEL, Switzerland, Aug. 1, 2018 /PRNewswire/ -- Axalta is increasing its prices for one of its refinish coatings technologies in Europe. The price increases come into effect from Q3 2018.
This new technology applies specifically to Cromax CC6700 Ultra Performance Energy Clear, Spies Hecker Permasolid HS Speed Clear Coat 8800 and Standox Standocryl VOC Xtreme Clear K9580 and their related ancillary products.
"In order to continue to invest in this revolutionary technology, Axalta has decided to increase prices by about 10%. The technology helps bodyshops to improve their overall profitability significantly as well as to reduce their energy consumption," says Adrien Schrobiltgen, Vice President for Axalta's refinish business in the EMEA region.
Axalta will also bring forward price adjustments on its other paint products in Europe, originally planned for the end of 2018 due to significant rises in raw material costs.
"Despite working closely with our suppliers to minimise the effect of the raw material price rises, Axalta is no longer able to absorb these cost increases without affecting our high level of services and superior product quality that our customers expect from us and that we are committed to deliver. It is therefore necessary to pass along some of these increases to our customers," Schrobiltgen says.
Customers will be contacted by Axalta to discuss how the product price increases will affect them.
Axalta is a leading global company focused solely on coatings and providing customers with innovative, colourful, beautiful and sustainable solutions. From light OEM vehicles, commercial vehicles and refinish applications to electric motors, buildings and pipelines, our coatings are designed to prevent corrosion, increase productivity and enable the materials we coat to last longer. With more than 150 years of experience in the coatings industry, the 13,300 people of Axalta continue to find ways to serve our more than 100,000 customers in 130 countries better every day with the finest coatings, application systems and technology. For more information visit axalta.co.uk and follow us @Axalta on Twitter and on LinkedIn.
Axalta Coating Systems GmbH
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