Axalta Becomes Global Commercial Vehicle Paints Company of 2021

Axalta Named Global Commercial Vehicle Coatings Company of the Year 2021 Frost & Sullivan recently awarded Axalta (NYSE: AXTA), a leading global producer of liquid and powder coatings, the Global Commercial Vehicle Coatings Company of the Year for 2021. Axalta received the annual Best Practices award for developing innovative coatings that address OEMs' growing requirements for lighter-weight vehicles and external components, as well as for its leadership in coating innovation and commercialization. "Every day, we strive to build deeper relationships with our customers by listening to their needs, understanding their business and delivering world-class products and services that help them meet cost, quality, sustainability and cycle time targets," said Joseph Wood, Vice President, Global Commercial Vehicle Coatings at Axalta. "We're honoured to be recognised for our innovation, product excellence and customer focus." Frost & Sullivan's research highlighted Axalta's Imron® and Rival® coating systems, which reduce the number of application steps, saving time and energy while improving productivity. The new basecoat materials can be applied directly to plastic substrates without an adhesion promoter, reducing the coating process from three steps to two. The Imron Elite ColorPlus basecoat is a premium basecoat system designed specifically for recreational vehicles' new and complex paint schemes. ColorPlus uses 30% less material and reduces cycle time by 30% while delivering a superior finish. Imron 2K high durability clearcoat, launched in September 2020 for European customers, distinguishes itself from regional competitors. The clearcoat is engineered to meet stringent volatile organic compound (VOC) limits mandated in European countries while maintaining durability and gloss after multiple washing cycles. Rival DTM Topcoat RV901 and RV902 are easy-to-apply, direct-to-metal (DTM) coatings for customers seeking reduced overall painting costs and performance in non-corrosive to mildly corrosive environments. Additionally, customers value the product's single-step application capability using conventional activators, eliminating the need to maintain separate inventory for new activators. Each year, Frost & Sullivan honours a company excelling in its field for growth strategy and execution with the Company of the Year award. The award recognizes high levels of product and technology innovation, as well as leadership in customer value and market penetration. Frost & Sullivan Best Practices awards recognise companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses and extensive secondary research to identify best practices in the industry.