Ascend buying compounding, masterbatch businesses of Poliblend, Esseti Plast
The deal is designed to help nylon 6,6 maker Ascend grow its European manufacturing and distribution footprint.
Nylon 6,6 producer Ascend Performance Materials is acquiring Italy-based Poliblend and Esseti Plast GD from D’Ottavio Group.
The financial terms of the deal have not been disclosed.
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 PA6,6; PA6; PBT; and POM.
Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and will also join Ascend’s European management team.
“This strategic acquisition marks an important transformation for our company as we grow our European manufacturing and distribution footprint,” said Phil McDivitt, Ascend’s president and CEO. “More importantly, it helps us provide our customers with a broader portfolio of high-performance, sustainable products to meet increasing demand.”
Poliblend was founded in 1999 and offers compounding and masterbatch services, including colour and additive concentrates designed to enhance the appeal and end-use performance of plastics products, packaging, and fibres. Its certifications include ISO 9001, ISO 14001, and ISO TS 16949.
The acquisition is expected to close in the second quarter.
Ascend is headquartered in Houston, Tex.