Hexpol buys TPE compounder Star Thermoplastic
Canadian Plastics
MaterialsThe deal will enable Sweden's Hexpol to enter the North American TPE market.
In a move that gives it a presence in the growing North American TPE market, Sweden’s Hexpol has bought TPE compounder Star Thermoplastic Alloys and Rubbers Inc. for US$26.5 million
Headquartered near Chicago, Star Thermoplastic was founded in 1993 by Thomas A. Dieschbourg, who will remain as the president of the company.
“The acquisition of Star Thermoplastic is in line with our growth strategy and will enable [us] to replicate our successful European TPE growth journey on the larger American TPE market,” Hexpol co-presidents Ralph Wolkener and Carsten Rüter said. “Both our existing TPE companies in Europe and China and Star Thermoplastics will be stronger through this expanded footprint.”
Star Thermoplastic currently has a turnover of approximately US$20 million, and employs approximately 30 workers. It serves the automotive, building and construction, medical, industrial, electronics, and consumer sectors.
