Axalta Closes on UAE Powder Coatings Manufacturer
Liquid and powder coatings supplier Axalta recently announced that it has completed the acquisition of Capital Paints LLC, a UAE-based thermosetting powder coatings manufacturer.
Capital Paints will operate as one of three Axalta powder manufacturing facilities in the region, with the others located in Malaysia and Indonesia, according to the company.
"This is an exciting milestone for Axalta," said Sobers Sethi, President of Emerging Markets at Axalta.
"Having a powder coating manufacturing base in the Middle East and North Africa (MENA) region creates a significant opportunity for us to bring our powder coating technologies to our customers in the oil and gas and architectural segments. With our industry-leading products, services and technology in powder coatings, we are well positioned to serve our customers and help them grow their businesses."
The move was first announced in September, and financial terms were not disclosed.