Argentina. Axalta Coating System announced an investment of US$15 million in the South American country for the manufacture of paints aimed at the automotive market.
Previously, the company had already made an investment of US$11.7 million in 2014, which allowed it to acquire a property in Escobar's Buenos Aires party, according to the Ministry of Industry.
The entrepreneurs of Axalta, led by the president of Cono Sur, Marcelo Cicchini, explained that the project will generate 53 jobs and that production will begin between August and October to go on the market in December.
The first products will be solvent bases, varnishes, color preparation and cleaning tiners. It will involve a substitution of imports for US $ 6 million per year at the beginning and almost 80% will be with local raw materials.
In addition, they announced that they will make new investments to manufacture in the next phase (second half of 2016) mills for special colors and in 2017 reactors for resins.
With information from www.diariojornada.com.ar
