Axalta becomes exclusive supplier for the BMW Group

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Axalta Coating Systems (NYSE: AXTA), becomes the exclusive supplier for ColorSystem, the BMW Group's own paint brand. The agreement covers the BMW Group's network of 730 dealerships and collision repair partners.

Under the terms of the agreement between the two companies, Axalta will expand ColorSystem's network to other collision repair shops and countries in addition to its existing services. ColorSystem is currently represented by BMW in 15 European countries and South Africa. As part of the contract, Axalta will also offer its latest paint system.

This paint system uses Axalta's so-called "Fast-Cure-Low-Energy-Technology". According to the company, this makes it particularly environmentally friendly, as this technology has the potential to significantly reduce CO2 emission equivalents and energy consumption: Compared to conventional coating technologies by up to 45 percent, Axalta says.

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