New Delhi [India], May 2 (ANI-BusinessWire India): Axalta Coating Systems, a leading global supplier of liquid and powder coatings on Tuesday opened its new headquarters office for India located in Gurugram within the National Capital Region (NCR).
The new location will also house an Axalta Global Business resource center which will provide a variety of services to the company's operations in the region and around the world.
The 35,000 square feet facility will enable Axalta to integrate its corporate office and other key country business functions within a single office leading to improve efficiency and business process management.
The opening follows Axalta's plant expansion plan in India announced in 2015.
"We are very excited to see another significant investment support our future growth in India. The new face of Axalta in India has been designed with Axalta's global standards in mind and enables our company to showcase its commitment to both long-term growth and customer support in the market," said Robert Bryant, Executive Vice President and Chief Financial Officer of Axalta Coating Systems, who officially opened the facility.
Axalta's business in India serves customers in the transportation OEM, refinish and industrial sectors of the economy. According to the World Bank, India's economy overall is projected to grow by 7.2 percent in the current fiscal year, up from 6.8 percent in 2016. The auto industry has started to show strong growth with a CAGR of approximately 7 percent over the next five years.
In line with original equipment sales, the local car parc is also expected to grow and lead to increased demand for Axalta's refinish products with leading brands such as Cromax , Standox , Duxone , Lucite and Nason . Sales of Axalta's industrial coating products such as AquaEC and Voltatex are poised to take advantage of infrastructure expansion.
"As a key emerging market, India continues to be a focal point in Axalta's growth plans in the Asia-Pacific region. With our new headquarters, Axalta has taken the next step in establishing itself as a leading coatings supplier in India to better meet the future requirements of its customers," said Sobers Sethi, Axalta Vice President and President, Emerging Markets.
Axalta established its India business in 1996, and today operates a manufacturing plant in Vadodara within the state of Gujarat along with offices and regional training centers in Gurugram, Mumbai, Kolkata, Bengaluru and Vadodara, and supports an extensive product distribution network across the country. (ANI-BusinessWire India)