Polyamide 6.6 producer Ascend Performance Materials (Houston, Texas / USA; www.ascendmaterials.com
) has signed an agreement to purchase compounder Poliblend (Mozzate / Italy; www.poliblend.it
) and masterbatch specialist Esseti Plast GD (Mozzate; www.essetiplast.com
) from the DOttavio Group. Ascend president and CEO Phil McDivitt said the acquisition is part of the company's plant to extend its production and distribution in Europe.
The acquisition includes a manufacturing facility in Mozzate, Esseti Plast GD's masterbatch range and Poliblend's engineering plastics portfolio, which consists of virgin and recycled PA 6.6, PA 6, PBT and POM. Financial terms of the transaction, which is expected to close in Q2, have not been disclosed.
Poliblend president Giancarlo DOttavio will continue to run Poliblends operations, and he is to join Ascends European management team. Founded in 1999, Poliblend offers compounding and masterbatch services, including colour and additives for plastic products and packaging.