MOSCOW (MRC) -- Axalta said that it will realign its business structure to fold most organizational functions into its two global business units, transportation coatings and performance coatings, according to Chemweek.
The two global business units will have full profit-and-loss (P&L) responsibility, a shift from the previously existing matrix organization in which regional business leaders had “primary financial responsibility,” Axalta says.
The plan follows earlier restructuring moves announced over the summer, and will involve the closure of Axalta’s offices in Center City, Philadelphia. Employees at those offices will be transferred to Glen Mills, Pennsylvania, a Philadelphia suburb that will become the site of Axalta’s headquarters, or to an office at the Philadelphia Navy Yard.
“With today's announcement, primary decision-making authority will reside with business unit leadership, supported by regional leadership and our global functions,” says Axalta chairman and CEO Robert Bryant. “Axalta's strategic review completed in March provided us with valuable insights into areas where we had the opportunity to simplify and streamline our decision-making processes. Aligning our organization more directly with our businesses will enable us to focus on our customers and better support our growth objectives in each of our markets.”
Axalta’s regional headquarters at Basel, Switzerland and Shanghai, China will remain open and regional leaders will continue to play an important role in the organization, the company says.
The reorganization will become effective 1 January 2021, and the office closures and shifts in the Philadelphia area will occur in the middle of next year.
As MRC reported earlier, in July 2017, Axalta Coating Systems completed its previously announced acquisition of the Spencer Coatings Group (UK), a leading manufacturer of high performance industrial coatings for heavy-duty equipment, general industrial, oil and gas, and glass coatings segments.
We remind that Russia's output of chemical products rose in August 2020 by 5% year on year. At the same time, production of basic chemicals increased year on year by 5.3% in the first eight months of 2020. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-July output. August production of benzene fell to 102,000 tonnes from 95,300 tonnes a month earlier due to scheduled shutdowns for maintenance at several producers. Overall output of this product reached 918,300 tonnes over the stated period, down by 0.9% year on year.
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