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NASCAR's Jeff Gordon was on the floor of the New York Stock Exchange on Wednesday to see the company that makes the paint for his race cars go public.
Axalta Coating Systems saw shares climb in mid-morning trade on Wednesday after the company made its stock market debut under ticker symbol "AXTA." The coatings company raised roughly $975 million through its initial public offering, as parent company Carlyle Group sold about 50 million shares.
The Philadelphia-based company, which makes liquids and powder coatings, was formerly known as DuPont Performance Coatings. It operated for 140 years under DuPont until it was sold to the Carlyle Group and rebranded as Axalta last year.
Gordon, who has won four NASCAR Spirit Cup championships, has worked with DuPont for 23 years.
"The timing was perfect. They gave me my shot. I mean, I started my NASCAR Sprint Cup Series career with DuPont when they first came on, and they've been incredible partners. That's what NASCAR is all about, is having great partners," Gordon told CNBC on Wednesday. "You know, I think that we're sort of a testing bed for their products, but at the same time we know we have the best quality coating to do what we do."
After the company's debut, CEO Charles Shaver told "Squawk on the Street" he expects the company to grow, especially given the strength in the auto industry, and emerge world class.
"We see really good, strong fundamental demand right now even though some of the countries may not be growing their GDPs that great, you know, the world's desire for transportation at the individual level continues to grow," Shaver said.