PolyOne buys composites maker PlastiComp

Material supplier PolyOne Corp. has acquired PlastiComp, an advanced engineered materials innovator and producer of specialty composites, for an undisclosed price.

“We are very excited to accelerate commercial and operational investments to further expand this important composite technology as part of our advanced composites portfolio,” Robert Patterson, PolyOne’s chairman, president and CEO, said in a statement.

Headquartered in Winona, Minn., PlastiComp was founded in 2003 by industry veteran and composites pioneer Stephen Bowen. The firm employs approximately 50 workers, and supplies composites based on materials ranging from polypropylene to PEEK.

PlastiComp will now become part of PolyOne’s specialty engineered materials segment.