Three’s Company: BASF appoints three heads of global coatings business units
Toronto, Ontario — The coatings division at BASF is due for a bit of a shake-up this coming August, as the auto paint manufacturer appointed three individuals to head up the new global units for its automotive coatings and refinish businesses. Effective August 1, Patrick Zheng Yu Zhao will be tasked with overseeing BASF’s Global […]
Tuesday Ticker: PPG says first-quarter EPS will be higher than previous guidance; Rivian maintains annual production expectations
Toronto, Ontario — PPG raises its guidance for Q1 2023 earnings thanks to stronger automotive OEM coatings sales performances, while Rivian reassures investors and analysts in this weekly Tuesday Ticker. PPG pumps it up PPG upped its guidance for first-quarter adjusted profit to between US$1.52 per share and US$1.58 per share, thanks to “stronger sales […]
Colourful Competition: PPG and Tasca Racing announce sponsorship for 2023 hot rod season
Strongsville, Ohio — PPG recently announced that it will extend its sponsorship of the Tasca racing team for the 2023 National Hot Rod Association, while unveiling a new look at the cars the team will bring to tracks shortly. The paint scheme is designed to match PPG’s INDYCAR layout and took seven people a total […]
Paint by Numbers: Sherwin Williams reports 2022 full-year, Q4 results; consolidated net sales up due to price increases
Cleveland, Ohio — Sherwin Williams reported its 2022 year-end and fourth-quarter financial results last month, with consolidated net sales ringing in at a record US$22.15 billion, up 11.1 percent from 2021. The company said sales from locations open for the full year of 2022 in the U.S. and Canada grew 11.7 percent. Fourth-quarter consolidated net […]
Warm Tones: Solar Yellow exterior paint available for order on 2023 Jeep Renegades
Windsor, Ontario — Break out of those midwinter blues with some sun with a new paint offering from Jeep, following the opening of orders for the new Solar Yellow exterior tint on Wednesday. Set to coat 2023 Jeep Renegade models, including new special edition Upland models, this new paint is available for order now at […]
Up at Axalta: Revenues up nine percent year-over-year, driven by ‘higher average price’
Toronto, Ontario — Axalta Coatings posted earnings of 20 cents per share (U.S. dollars) in Q4 2022, compared with 23 cents per share in Q4 2021. In the company’s overall results for 2022, revenues were up nine percent year-over-year to US$1,236.7 million, beating the Zacks Consensus Estimates of US$1,216.6 million. According to the press release, […]
Paint Profit: AkzoNobel grows revenue on increased pricing
Toronto, Ontario — AkzoNobel reported its Q4 2022 and full-year 2022 financial results on Tuesday, with increased revenues driven by price increases. The company reported a 13 percent revenue increase for the full year 2022, compared to 2021. Pricing was up 14 percent. Operating income for the year was reported at €708 million (2021: €1,118 […]
Expensive Expansions: Canada’s largest Tesla service centre planned for Hamilton mall
Hamilton, Ontario — Electric vehicle manufacturer, Tesla, is opening a 60,000 square foot service centre in Hamilton, Ont., that promises to provide customers services like “software updates, paintless bolt-on panel replacement and/or dent removal,” and more. According to a letter obtained by Drive Tesla Canada, this location is planned to open at the CF Lime […]
Techno Tint: Axalta names ‘Techno Blue’ as 2023 colour of the year
Toronto, Ontario — Axalta unveiled its 2022 colour trends report last month, alongside the always-anticipated release of this year’s global automotive colour of the year, Techno Blue. Every year, the colour experts at Axalta compile data reflective of trends in vehicle colour choices across international markets, as part of its annual “Powered by Color” trend […]
Mood Paint: Concept Volkswagen ID.7 at CES can change colours in 22 places, OEM says
Las Vegas, Nevada — Volkswagen may be calling its paint job “camouflage,” but there is no doubt that attendees to CES in Las Vegas can’t take their eyes off a colour-changing concept model of the electric ID.7 sedan on display at this year’s show. The German OEM calls the finish “smart camouflage,” claiming that this […]
