Benzinga | Mar 15, 2021 08:53AM EDT

Axalta Expands Energy Solutions Acquires Anhui Shengran Insulating Materials Co.; Financial Terms Not Disclosed

SHANGHAI, March 15, 2021 /PRNewswire/ -- Axalta (NYSE:AXTA), a leading global supplier of liquid and powder coatings, announced today that it has entered into a definitive agreement to acquire Anhui Shengran Insulating Materials Co., Ltd. ("Anhui Shengran"), a leading Chinese producer of high-quality wire enamels used in a wide range of consumer electronics, electric vehicle, and industrial applications. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions. Financial terms have not been disclosed.