Ascend to Purchase Compounding and Masterbatch Businesses
Ascend Performance Materials, Houston TX/USA, reportedly the largest fully integrated producer of polyamide 66 resin, 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.
Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.Important Transformation
???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.
???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, Poliblend???s President.
Giancarlo D???Ottavio will continue to run Poliblend???s operations and join Ascend???s European management team.About Poliblend
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.