Axalta Coating Systems has confirmed its previously-announced discussions regarding it being acquired by Nippon Paint have ended.
"Axalta is a premier company in the coatings industry and has recently been sought after by two global competitors," said Axalta chairman and CEO, Charles Shaver.
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"While neither deal came to fruition, the keen interest by these companies underscores Axalta's global leadership position. Our current and future operational plans have not wavered during these discussions. We are well positioned to continue as a standalone growth company and will remain disciplined in generating superior long-term value for our shareholders.
"I would like to thank our customers, investors, suppliers, and employees for their patience and support as we have considered these strategic options."
Axalta provides solutions for LCVs light vehicles and refinish applications to electric motors, building facades and other industrial applications.
With more than 150 years of experience in the coatings industry, Axalta employs 13,300 staff.
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