Geon expands TPE business with PolymaxTPE acquisition
Canadian Plastics
MaterialsPolymax Thermoplastic Elastomers LLC brings locations in China and the U.S. to polymer developer Geon.
Polymer developer and supplier Geon Performance Solutions LLC is acquiring U.S.-based thermoplastic elastomer (TPE) maker PolymaxTPE for an undisclosed amount.
Founded in Nantong, China in 2005, PolymaxTPE also has a North American location in Waukegan, Ill.
“This addition represents a key step forward in Geon’s strategy,” Geon CEO Tracy Garrison said in a Dec. 1 news release. “The Nantong facility and tenured team will enable us to better serve our customers in the Asia-Pacific region and the facility in Illinois will support our continuous growth in North American markets through expanded polymer solutions and market access. We intend to maximize the incredible expertise of the PolymaxTPE team… and look forward to bringing its TPE solutions to our customers.”
Geon is headquartered in Westlake, Ohio, and is owned by private equity firm SK Capital Partners.
“PolymaxTPE’s leading thermoplastic elastomer technology will be fully leveraged by Geon to make the combined company a global leader in thermoplastic elastomer,” Martin Lu, chief technology officer and co-founder of PolymaxTPE, said in the release.
