Ingenia Polymers, IKA Group form JV for PVC additives
Headquartered in the Houston area, the venture will develop, produce and commercialize stabilizers and other additives for the PVC industry in North America.
Material suppliers Ingenia Polymers and IKA Group have formed a 50/50 joint venture to make and sell stabilizers and other additives for the PVC industry in North America.
The new JV will be located in the Houston area, where Ingenia is headquartered, the companies said in an Oct. 20 news release.
“After forming IKA Group in 2020 via a management buy-in, this important investment marks the next milestone for our ambitious international growth strategy,” IKA CEO Alexander Hofer said in the release.
IKA Group vice president Tony Butt will serve as president and chief executive of the new venture, the release said. He has more than 30 years of experience in stabilizers and other PVC additives.
“The teaming up of Ingenia and IKA is a perfect combination, as both groups enrich each other and will allow broad synergies,” Butt said.
Operations for the new JV are expected to begin in early 2023.
Ingenia was founded by John Lefas in 1986, under the original named WedTech Inc. Ingenia makes compounds as well as white, black, and colour masterbatches, and slip, antiblock, antioxidants, antistat and antifog additives, processing aids, ultraviolet stabilizers, and flame retardants.