DAILY NEWS Dec 21, 2012 6:42 PM - 0 comments

PolyOne buys advanced composite materials producer Glasforms for US$34 million

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In an effort to continue its global expansion initiatives, polymer supplier PolyOne Corporation has acquired Glasforms Inc., an Alabama-based manufacturer of glass and carbon fibre reinforced polymers and advanced composite products for US$34 million.

Headquartered in Birmingham, Glasforms manufactures advanced composite products for use in electrical and telecom, energy, transportation, healthcare, and security and defense markets. End products include applications for endoscopy wands, wind turbine blade stiffening components, commercial truck floors and railcar doors for light-weighting, composite utility poles to replace wood and metal, earthquake-proof bridge decks, and specialized rods used in the production of oil and gas.

“Our acquisition of Glasforms marks yet another important milestone in PolyOne’s transformation, as we further broaden our specialty solutions portfolio to include these new and adjacent technologies and applications,” said Stephen D. Newlin, chairman, president and CEO of Avon Lake, Ohio-based PolyOne.

Glasforms will integrate as part of PolyOne’s Specialty platform, under the direction of Craig Nikrant, senior vice president and president, Global Specialty Engineered Materials.

The company will continue to operate from its Birmingham campus, PolyOne said.

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