HOUSTON -Thursday 13 February 2020 [ AETOS Wire ]
(BUSINESS WIRE)-- Ascend Performance Materials, the largest fully integrated producer of polyamide 66 resin, announced today it signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group. The acquisition includes a manufacturing facility in Mozzate, Italy, the masterbatch portfolio of Esseti Plast GD and the engineering plastics portfolio of Poliblend, which consists of virgin and recycled grades of PA66, PA6, PBT and POM.
“This strategic acquisition marks an important transformation for our company as we grow our European manufacturing and distribution footprint. More importantly, it helps us provide our customers with a broader portfolio of high-performance, sustainable products to meet increasing demand,” said Phil McDivitt, Ascend’s president and CEO.
Poliblend was founded in 1999 and offers compounding and masterbatch services, including color and additive concentrates that enhance the appeal and end-use performance of plastics products, packaging and fibers. Its certifications include ISO 9001, ISO 14001 and ISO TS 16949.
“The ability to offer our sustainable products in an ever-changing global business environment is a game changer for Ascend,” said John Saunders, Ascend’s European leader.
Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team.
“This is an exciting chapter for Poliblend. Combining the shared expertise of our companies creates opportunities to expand our reach while continuing to provide the high-quality products and service that our customers have come to trust,” said D’Ottavio.
Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.
About Ascend Performance Materials
Ascend Performance Materials is a global premium provider of high-quality plastics, fibers and chemicals and is the world’s largest integrated producer of PA66 resin. Headquartered in Houston, Texas, Ascend has nine global locations, including five fully integrated manufacturing facilities located in the southeastern United States and an engineering plastics compounding facility in Europe, all dedicated to innovation and safe production. With three of the world’s largest chemical processing facilities, Ascend’s materials form the building blocks for products used in everyday applications from apparel to airbags, cable ties to circuit boards and carpets to car parts. Ascend’s 2,600-person global workforce is committed to making a difference in the communities we serve and leading the development of material solutions that inspire everyone, everywhere, every day.
About Poliblend and Esseti Plast
Poliblend S.P.A. manufactures and markets various basic technopolymers (PA-PBT-POM), elastomerized, reinforced and loaded compounds, self-extinguishing, lubricated for the global market.
With a large fleet of dedicated extruders, Esseti Plast is a leader in the production and sale of colored masterbatches and specific additives.
More information about Poliblend can be found at https://www.poliblend.it/it/chi-siamo.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200212005673/en/
For further information:
Ascend Performance Materials
Alison Jahn, Vice President, Global Communications
Tel: +1 713-210-9809
For editorial inquiries and clippings:
Tel: +31 164 317 024
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