Axalta, a supplier of liquid and powder coatings, announced an agreement to acquire Anhui Shengran Insulating Materials Co., Ltd., a Chinese producer of wire enamels used in a range of consumer electronics, electric vehicle and industrial applications. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions. Financial terms have not been disclosed.
According to Axalta, the addition of Anhui Shengran will complement Axalta’s existing Energy Solutions portfolio, which includes three distinctive product segments – wire enamels, impregnating resins and electrical steel coatings. The acquisition will add wire enamel products and capabilities to Axalta customers across several end markets, including automotive, renewable energy and consumer electronics. The company says the additional production capacity will further support Axalta’s expansion in rapidly growing Asian markets.
The post Axalta Acquires Anhui Shengran Insulating Materials appeared first on American Coatings Association.
from American Coatings Association https://www.paint.org/axalta-acquires-anhui-shengran-insulating-materials/
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