HOUSTON-Thursday 3 September 2020 [ AETOS Wire ]
(BUSINESS WIRE)--
As part of its global growth strategy, Ascend Performance Materials has
completed its acquisition of Italian firms Poliblend and Esseti Plast.
With this purchase, Ascend expands its portfolio into other engineered
plastics, recycled resins and masterbatches.
“Poliblend
and Esseti Plast complement our current business exceptionally well,”
said John Saunders, Ascend’s vice president of Europe. “Our experience
as a large-scale, fully integrated polyamide 66 manufacturer coupled
with Poliblend’s portfolio of recycled and virgin PA66, PA6 and POM, and
Esseti Plast’s extensive masterbatch operations will offer our
customers more choices for quality, high performance materials on a
global scale.”
As
part of the purchase, Ascend establishes its second production facility
in Europe. The acquisition also includes Poliblend Deutschland, a
distribution facility located in Germany.
“This
acquisition, coupled with our new compounding facility in China, will
allow us to serve our customers locally around the globe,” Phil
McDivitt, Ascend’s president and CEO. “We now have production, product
development and testing capabilities in North America, Asia and Europe,
giving us additional scale to respond to our customers. Furthermore, a
product developed for a customer in Europe can be quickly replicated and
produced across the globe to meet shifting supply chain needs.”
Announced
in February 2020, the acquisition was put on hold as COVID-19 cases
spiked in Italy and then in the United States. “I am extremely grateful
to Poliblend’s leadership and our team in Europe for navigating
unprecedented circumstances to ensure this deal closed,” said McDivitt.
“The safety and health of our people is our highest priority.”
About Ascend Performance Materials
Ascend
Performance Materials makes high-performance materials for everyday
essentials and new technologies. Our focus is on improving quality of
life and inspiring a better tomorrow through innovation. Based in
Houston, Texas, and with regional offices in Shanghai, Brussels and
Detroit, we are a fully integrated material solutions provider with
eight global manufacturing facilities in the United States, Europe and
China. Our 2,600-person global workforce makes the plastics, fabrics,
fibers and chemicals used to make safer vehicles, cleaner energy, better
medical devices, smarter appliances and longer-lasting apparel and
consumer goods. We are committed to safety, sustainability and the
success of our customers and our communities.
Find out more about Ascend at www.ascendmaterials.com.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200903005308/en/
Contacts
Alison Jahn, +1 713-210-9809, ajahn@ascendmaterials.com
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