Axalta Coating Systems, a leading global supplier of liquid and powder coatings, has formally opened its regional office in Dubai’s Jebel Ali Free Zone Authority (JAFZA). Designed to expand its regional sales and customer service capability, Axalta’s investment responds to the region’s continued growth that is outperforming other global markets in automotive industry sales.
In addition to this strategic milestone in Axalta’s expansion in the Middle East and North Africa (MENA), the company also plans to commission a flagship regional refinish training center in Dubai by early 2017. The new facility will enable refinish technicians to hone their skills and learn how to maximize their use of Axalta’s refinish brands.
“Our investment demonstrates our confidence in the region and our commitment to serve our regional customers with industry-leading coating solutions and services,” said Charlie Shaver, Chairman and CEO of Axalta. “Our strength in both transportation and industrial coatings will enable us to support the growth of consumer spending on vehicles and the rapid industrialization being witnessed across the region.”
With the United Arab Emirates topping global growth rates for new car sales during the first eight months of 2015, the wider Middle East car sales market is predicted to grow twice as fast as markets in North America and Western Europe between 2012 and 2022 according to Carmudi, a regional automotive publication.
Forecasts of annual light vehicle sales among the member states of the Gulf Cooperation Council (GCC), the largest economic body in the Middle East, estimate a surge of 25 percent to nearly 1.75 million new car sales due to strong economic growth, private sector activity, low interest rates and government spending.
“With our new facility, we will be more effective and efficient in building our brand and enabling our customers to maximize the benefits of our products, especially our industry-leading waterborne coating systems. Our investment in the Middle East signals our expectation for additional business opportunities in this growing region of the world,” added Shaver.
