Axalta acquires China's leading manufacturer of enameled wire paint for electronic and power equipment to expand its energy solution product line

Shanghai, China-March 15, 2021: Axalta Coating Systems (NYSE: AXTA), the world's leading supplier of liquid and powder coatings, announced today that it has acquired Anhui Shengran Insulation Materials Co.
, Ltd.
("Anhui Sheng Of course") reached a final agreement.
Anhui Shengran is a leading manufacturer of high-quality enameled wire paint in China.
Its products are widely used in consumer electronics, electric vehicles and industrial fields.
Subject to the conditions of the agreement, the transaction is expected to be completed in the second quarter of 2021.
Financial terms have not been disclosed.

The addition of Anhui Shengran is a highly supplement to Axalta's existing energy solution product lineup.
The acquired enameled wire paint products and production capacity will enhance Axalta's products and services for multiple market terminals such as automobiles, renewable energy and consumer electronics.
The new capacity will further support Axalta's expansion in the fast-growing Asian market.

Shelley Bausch, Senior Vice President of Axalta Global Industrial Coatings, said: "Anhui Shengran's enameled wire paint products and production capacity are highly complementary to our growing energy solutions business.