Axalta Acquires UK Thermoplastic Firm
Axalta Coating Systems (Philadelphia) announced Monday (Aug. 14) that it has acquired Plascoat Systems Limited, a Farnham, England-based supplier of thermoplastic powder coatings.
Plascoat manufactures thermoplastic polyolefin coatings for a wide swath of markets, including oil and gas pipelines, water pipes, marine environments, automotive parts, rail and other applications. The company’s product lines include PPA 571 Aqua, for water pipes and fittings; Plascoat FSPE, for flame spray application to oil and gas pipelines; and Talisman, for products such as medical furniture and dishwasher parts.
As part of the deal, the financial terms of which have not been disclosed, Axalta will acquire both of Plascoat’s manufacturing facilities, in Farnham and in Zuidland, Netherlands, from Plascoat’s former parent company, IPT Ltd.
“Over the last 65 years, Plascoat has led the way in developing innovative, environmentally responsible coatings that meet the high corrosion resistance demands of customers around the globe,” said Michael Cash, Axalta senior vice president and president, Industrial Coatings. “We look forward to bringing this knowledge and expertise into Axalta to augment our existing thermoplastic powder coatings business and provide even more innovative products and solutions to our customers.”
“This is a great opportunity for Plascoat to grow as a business and advance our offerings while joining a company that places great value on their customers, new product development and impact on the environment,” said Jeremy Stoke, chairman of IPT Ltd. “We look forward to our future with Axalta.”
Axalta’s acquisitions in 2017 have included: