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Axalta Implements Global Price Increases
Liquid and powder coatings supplier Axalta recently announced that it is implementing additional price increases across all of its global lines.
The announcement, made July 15, took effect immediately.
The company cited “continued inflationary pressures” as the cost of raw materials used in the manufacturing of coatings has increased, and non-raw material input costs, including freight, energy, and labor, continue to increase beyond earlier expectations.
“Even with aggressive cost-control measures in place across our global supply chain, we're encountering extraordinary cost and inflationary pressures,” said Sean Lannon, Axalta's Chief Financial Officer.
“These pressures have made it necessary to appropriately raise prices to help offset ongoing cost increases and ensure our ability to continue delivering exceptional support, innovative solutions, and best-in-class products to our customers.”
The company also notes that the adjustments will vary depending on geographic region, products offered and market(s) served, adding that, in some cases, increases may be greater where conditions necessitate additional adjustments.
