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PolyOne buys composites producer PlastiComp
Jun 01, 2018 (MarketLine via COMTEX) -- Copyright (C) 2018 Datamonitor. All rights reserved

PolyOne Corporation has acquired PlastiComp, an advanced engineered materials and specialty composites manufacturer.

The deal's financial details have not yet been disclosed.Set-up in 2003 by industry veteran Stephen Bowen, PlastiComp has grown in the market through its capacity to replace metal and lightweight products with complex and long fibre technology (LFT) composite formulations.The basic benefits of LFT-based materials include high strength and stiffness, fatigue endurance, resistance to corrosion and wear, as well as recyclability.PlastiComp serves global customers in several demanding applications through its Complet product lines and design capabilities.Products serveapplications such as robots, drones, medical devices, marine, and outdoor high-performance equipment.PlastiComp has 50 employees, with its design and production facility in Winona, Minnesota.It will join PolyOne as part of the specialty engineered materials segment.PolyOne Corporation chairman, president and CEO Robert M Patterson said: "I'm thrilled to welcome Steve, the PlastiComp employees and their valued customers to the PolyOne team."We are very excited to accelerate commercial and operational investments to further expand this important composite technology as part of our advanced composites portfolio."Bowen added: "As we looked to take this business and our customers to the next level, PolyOne was the natural choice."PolyOne's comprehensive approach to design, service and innovation in thermoplastics and composites will enable us to forge even further ahead with our LFT technology, and I'm excited that our teams have joined together in collaboration for the future."

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