Joint Venture to Provide Coatings to China’s Commercial Truck Market
SHANGHAI – Axalta Coating Systems and Shanghai Kinlita Chemical have signed an agreement to form a joint venture in China.
Aimed at driving deep into China’s burgeoning commercial truck market, the agreement leverages Axalta’s position in advanced coating technologies with Kinlita’s strong position in China’s commercial truck market to create a new presence in the country's commercial truck market. The commercial truck industry plays a vital role, from facilitating the transport of goods to supporting the expansion of the nation’s infrastructure, in supporting China’s economic development.
“We are very pleased to be signing this joint venture agreement for deeper cooperation with Kinlita,” said Michael Cash, Senior Vice President of Axalta Coating Systems and President of Axalta’s Industrial Coatings business. “Our agreement brings together our leadership position in supplying the commercial vehicle market globally with advanced coating technologies, such as our environmentally responsible waterborne primer and basecoats that can help commercial truck manufacturers reduce their overall environmental footprint, and Kinlita’s rich history and strong market position. This is a win-win development – for our customers and for both of our companies in China.”
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