“These facilities and the
significant investments made in the past couple of years are in sync with
Axalta’s strong commitment to India to deliver innovative and comprehensive
coating solutions to our customers in every sector of the automotive market and
in other industry sectors. I am confident that Axalta’s global expertise in
coatings will play a significant role in India, catering to our customers’
specific coatings requirements,” said Shaver.
According to World Bank’s
data, India’s GDP in 2017 was at 7.2 percent, which makes it the fastest growth
economy in the world. Last year, India’s automotive sector contributed to about
7 percent of India’s annual GDP, finishing the year to become the fourth
largest in the world with more than three million cars manufactured after China
(24.2 million), United States (17.1 million) and Japan (4.4 million units),
with industry observers optimistic that India will be globally the third
largest by 2020 with an estimated five million units sold annually (Source:
Society of Indian Automotive Manufacturers, SIAM).
Taking advantage of the
booming automotive market, Axalta Savli’s new plant will be able to expand
production capacity of both high and low temperature cured coatings. The
facility is also designed to scale up to produce waterborne coatings for
customers’ conversion to more sustainable solutions. The new plant employs
environmentally responsible processes and is designed for low emissions. This
helps to ensure a healthy environment for the community and a sustainable
future for Axalta.
“Axalta has been widely
recognised by its customers in India for excellent performance and service
commitments in the refinish and industrial segments. We now look forward to
bringing the same kind of commitment to meet the growing demand of the Indian
automotive and industrial OEMs,” said Vinay Rajadhyaksha, Managing Director,
Axalta Coating Systems India.
Axalta, which established
business in India in 1996, also has offices and regional training centres in
Gurugram, Mumbai, Kolkata, Bengaluru and Vadodara, and supports an extensive
product distribution network across the country.