International. Axalta Coating Systems reported that it will initiate a global price increase for its transport coatings from December 1, 2018, or as contracts with customers allow. The increase will apply to coatings of light vehicles and commercial vehicles.
"The decision to move forward with price increases for our transportation coatings comes after we took all practical steps to minimize the unparalleled impact that higher raw material costs have had on our transportation business globally," said Steven R. Markevich, executive vice president and president, Transportation coatings and Greater China, Axalta.
"We are experiencing rising costs across virtually all walks of life with freight and logistics, packaging and new tariffs also contributing significantly to a higher overall cost of doing business. Therefore, price increases are a necessity given the realities in our current markets," he added.
"As always, we remain committed to delivering world-class products and services to ensure the best results for our customers now and in the long term."
