Axalta Coating Systems Ltd. announced its financial results for the first quarter ended March 31, 2016. The company reported net sales of $955.6 million for the first quarter of 2016 increased 3.0 percent year-over-year excluding unfavorable foreign currency translation. Sales decreased 3.4 percent as-reported. Net sales growth was driven by 5.1 percent higher average selling prices, offset by a 2.1 percent volume decline, primarily from slower demand in Latin America. Excluding Latin America, overall volumes increased low single digits for the quarter. Unfavorable foreign currency translation reduced net sales by 6.4 percent.
“We are pleased that our first quarter results
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