PolyOne expands with purchase of Brazilian plastics company

Chemical maker PolyOne Corporation has acquired Uniplen Industria de Polimeros Ltda., a Brazilian thermoplastics maker, for US$21 million in cash, with more to be paid within the next three years if financial targets are met.

Uniplen reported 2010 revenue of about US$34 million.

“The Uniplen acquisition provides PolyOne with local expertise in specialty engineered materials as well as an attractive position in the Brazilian thermoplastics distribution market,” said Stephen D. Newlin, chairman, president and chief executive officer. “We now have specialty engineered materials, color masterbatch and distribution capabilities in Brazil, providing the necessary critical mass to serve our global customers in the region.”