Axalta Coating Systems, a leading global supplier of liquid powder coatings, has announced that it will be building its new Global Innovation Center at The Navy Yard in Philadelphia, according to a press release issued by Axalta.
The new R&D center will be developing new coating products.
The new facility will be home to Axalta's global research, product development and technology initiatives, according to the press release.
Scientists and technicians at the new facility will be developing the next generation coatings products and keep pace with the emerging application needs.
Axalta adds in the press release that light weight plastic and composite materials are increasingly being used by vehicles to save fuel.
These materials would require special coating formulations.
Customers that are engaged in vehicle manufacturing and repair are now requiring "faster and more productive application systems and technologies," according to the press release.
There is demand for newer waterborne coatings.
Axalta said in the press release that the mission of the Global Innovation Center and its worldwide research and development network is to develop products that suit these needs, as well as others.
The company has other technology centers in the Americas, Europe, and Asia-Pacific.
Charlie Shaver, chairman and CEO of Axalta, said in the press release that "innovation is central" to the company's "growth and ability to meet the needs" of customers.
"Coatings are a critical component of so many everyday products," he said. "Cars and other vehicles, motors and electronic components, automotive parts, white goods and countless other materials exposed to the elements rely on coatings to make them not only beautiful, but more durable, energy-efficient, and productive."
Philly.com adds that the Global Innovation Center will be occupying a portion of The Navy Yard that is already settled by other research-and-development facilities.
WuXi AppTec, the Shanghai-based pharmaceutical company, has a laboratory and production center in The Navy Yard.
Shaver told Philly.com that sharing the campus with other research-and-development facilities provides Axalta with a standing as it seeks to recruit tech talent and forge an identity.
"People will associate with and feel like they are part of the community," he said. "You really want to hire the best people who will do their best for you."
The project is being developed by Liberty Property Trust and Synterra Partners, according to the press release.
Axalta has also entered into a long-term lease agreement for the building.
The completion of the project is expected to be in late 2017, according to the press release.
