On Monday June 26 2017, Charlie Shaver Axalta the manager and CEO of Axalta Coating Systems which is the leading coating producers that introduced tech center in China.
The US based company planned to invest more in Shanghai for certain reasons, as earlier this month the project of Asia Pacific Technology Center (APTC) was appreciated by the Chinese local government.
Shaver said, “Shanghai has impressive plans to set up an international sci-tech innovation center. Axalta is proud to be part of this vision. And, I can assure you that we are committed to working with each segment of the entire industrial chain to drive the development and application of technology.”
In an interview with pressmen, Xinhua disclosed that the majority of their economic growth comes from China. He added that coating business revenue growth in China grew at a much faster pace than in North America and Europe.
Shaver admitted, “World has accepted China’s giant market picture. The slowing Chinese economy to some extent weighs on the expansion of the industrial coating business. But the booming Chinese auto market is buttressing its transportation coating and refinishing business.”
According to the recent survey, The Philadelphia-based Company reported “Net sales revenue of about 1 billion U.S. dollars globally in the first quarter this year. Driven by sales volume growth of 8.9 percent year on year. With its transportation coatings net sales rising 2.1 percent to 421.4 million dollars in the first quarter.”
Charlie Shaver visited China once every quarter in recent years. He said, “The Chinese coating industry is very competitive, with major international and good domestic coatings players on the market, while consumers are demanding more innovation and local solutions.”
It is noted that APTC provided quality and fine products to the market. With the cooperation of Shanghai practical and innovative approach to market lead fruitful results in the promotion of APTC.
Reporter: Syeda Faiza Bukhari
