Axalta Coating Systems Makes Binding Offer to Acquire European and Chinese Operations of Wire Enamel Manufacturer IVA

PHILADELPHIA–(BUSINESS WIRE)–Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid
and powder coatings, announced today that it has made a binding offer to
acquire the European and Chinese operations of IVA, one of the world’s
leading wire enamel manufacturers, from its parent company Superior
Essex.

IVA, which has been in operation since the late 1930’s, develops and
produces the latest innovations in wire enamels used to insulate
electrical equipment and components. IVA is well known for its broad
portfolio of high performance, high quality wire enamels including top
coats and self-bonding products. These include state-of-the-art
insulating technologies used in the manufacture of e-mobility
technology, renewable energy applications, medical equipment, household
appliances, and industrial and automotive applications, among others.

“We look forward to welcoming IVA into Axalta,” said Michael Glomp,
Axalta’s Global Vice President, Energy Solutions. “IVA’s single-minded
focus on continuous innovation, quality and customer fulfillment is well
aligned with Axalta’s values, and we look forward to offering our
customers enhanced insulating enamel solutions at the cutting edge of
magnet and electrical wiring technology.”

“The sale of IVA France and IVA China will allow Superior Essex to focus
on its core competencies, while creating an opportunity for IVA to
further enhance its enamel solutions and offerings in partnership with
Axalta,” said Brian Kim, CEO, Superior Essex. “We are excited to see all
that this partnership will bring to the marketplace.”

The transaction includes IVA manufacturing sites in Meyzieu, France and
Changzhou, China, which is operated through a joint venture with a local
minority partner. For more information on IVA, visit http://www.ivainsulations.com.

The transaction is expected to be completed in late 2017 or early 2018,
subject to clearance by applicable regulatory authorities, consultation
with IVA’s French employee works council and other customary closing
conditions. Financial terms were not disclosed.

About Axalta Coating Systems

Axalta is a leading global company focused solely on coatings and
providing customers with innovative, colorful, beautiful and sustainable
solutions. From light OEM vehicles, commercial vehicles and refinish
applications to electric motors, buildings and pipelines, our coatings
are designed to prevent corrosion, increase productivity and enable the
materials we coat to last longer. With more than 150 years of experience
in the coatings industry, the over 13,000 people of Axalta continue to
find ways to serve our more than 100,000 customers in 130 countries
better every day with the finest coatings, application systems and
technology. For more information visit axaltacoatingsystems.com
and follow us @axalta on Twitter
and on LinkedIn.

Cautionary Statement Concerning Forward-Looking Statements

This release may contain certain forward-looking statements regarding
Axalta and its subsidiaries including those relating to the timing and
expected benefits of the IVA acquisition. Forward-looking statements are
based on management’s expectations as well as estimates and assumptions
prepared by management that, although they believe to be reasonable, are
inherently uncertain. These statements may involve risks and
uncertainties, including, but not limited to, the satisfaction of the
closing conditions of the transaction (including regulatory approvals);
the parties’ ability to consummate the transaction on the anticipated
terms and schedule; and the parties’ ability to achieve the expected
benefits of the acquisition. Axalta undertakes no obligation to update
or revise any of the forward-looking statements contained herein,
whether as a result of new information, future events or otherwise.

Contacts

Axalta Coating Systems
Heather Marter, +215-255-7904
[email protected]
axaltacoatingsystems.com