Axalta Coating Systems and Chinese industrial coating supplier Shanghai Kinlita Chemical have entered into an agreement to form a joint venture in China.
The joint venture will leverage Axalta's expertise in advanced coating technologies with Kinlita's strength in China's commercial truck market to serve commercial truck market in the country.
According to Axalta Coating Systems senior vice president Michael Cash, the joint venture will help commercial truck manufacturers to reduce their overall environmental footprint by providing them with advanced coating technologies including waterborne primer and basecoats.
Kinlita chairman Wu Guozheng said: "With Kinlita's supply positions and strong marketing capability in the commercial truck market and Axalta's high-performance, low volatile organic compound paints, we have high expectations for the future of this venture."
Axalta has been creating environment friendly coating solutions for transportation markets in China for the past 30 years.
The commercial truck market in China is expected to become larger as LMC Automotive estimates that the production of medium and heavy duty trucks in China is likely to rise from 895,000 units in 2015 to 1,049,000 in 2017.
Image: Axalta's president Michael Cash (left) and Kinlita Chairman Wu Guozheng (right) shake hands. Photo: courtesy of Business Wire.
