Axalta Renews Contract with Mercedes-AMG Petronas Formula One Team

Axalta (NYSE: AXTA) announced at the beginning of 2020 that it renewed its Official Team Supplier contract with Mercedes-AMG Petronas Formula One Team. The team has dominated the sport as the FIA Formula One^TM Constructors' Champion, having won its sixth consecutive gold medal at the end of the 2019 season, and stated it has relied on Axalta's customized support and exclusive product offerings from Spies Hecker, the company's global automotive refinish brand, for more than six years. Axalta works closely with the Team Paint Shop at Brackley in the UK to ensure that paints on the vehicles are lightweight, durable, able to withstand demanding road conditions, and at the same time look attractive. Unveiled in February in the UK and set to be seen on roads according to the FIA, the 2020 appearance will feature a striking difference this season – the addition of burgundy. This new color will be the color of the sports division, which includes the Tour de France and America's Cup teams, thanks to INEOS, the Mercedes-AMG Petronas Formula One Team's new Principal Partner. Andrew Moody, Paint and Graphics Department Lead of Mercedes-AMG Petronas Formula One Team, said: "Burgundy is not as straightforward a color as it may appear. Additionally, it has transitions from five colors ranging from burgundy to black and a very fine black pinstripe, and a silver pinstripe that defines the burgundy areas. Also, the INEOS lettering will be painted white, so the process is quite complex, but we also know we can rely on Spies Hecker." Formula One^TM, one of the leading global racing disciplines in which Axalta is involved, holds a key position among the company's decades-long racing partnerships in the US, Europe, Asia and Latin America. These relationships strengthen Axalta's commitment to racing such as NASCAR, WEC and Formula Student, while also allowing it to showcase its technology and product innovations.