Axalta's Refinish Segment Sees 7% Year-Over-Year Decline
Axalta's Refinish segment experienced a 7% year-over-year decline in net sales, from $554 million to $517 million.
“We believe that we’re well-positioned for growth in the business as volumes are expected to stabilize and grow into next year,”
Chris Villavarayan, Axalta president and CEO, attributed the decline to lower claims activity and shifts in customer order patterns within the North American market. Despite this, the segment has generated $90 million in incremental net sales, partly due to gaining new business from over 2,200 body shops.
Author's summary: Axalta's Refinish segment declines 7% year-over-year.
- Net sales decreased from $554 million to $517 million
- 7% year-over-year decline
- $90 million in incremental net sales generated
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