Refinish sales down on distributor working capital adjustments and Venezuela deconsolidation.
Axalta Coating Systems Ltd. (NYSE:AXTA) announced net sales of $1.091 billion for the third quarter of 2017 that ended September 30, an increase of 7.0 percent, including 1.9 percent in favorable foreign currency translation contribution. Constant currency net sales increased 5.1 percent in the period, driven by 9.7 percent in acquisition contribution, offset by 3.9 percent lower volumes and 0.7 percent lower average selling prices. The lower organic net sales were driven by distributor working capital adjustments in North America Performance Coatings, impacts from recent natural disasters as well
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.