Ascend Performance Materials has completed its acquisition of Italian firms Poliblend and Esseti Plast. With this purchase, Ascend expands its portfolio into other engineered plastics, recycled resins and masterbatches.
Poliblend and Esseti Plast Complements Ascend’s Business
As part of the purchase, Ascend establishes its second production facility in Europe. The acquisition also includes Poliblend Deutschland, a distribution facility located in Germany.
“Poliblend and Esseti Plast complement our current business exceptionally well. Our experience as a large-scale, fully integrated polyamide 66 manufacturer coupled with Poliblend’s portfolio of recycled and virgin PA66, PA6 and POM, and Esseti Plast’s extensive masterbatch operations will offer our customers more choices for quality, high performance materials on a global scale,” said John Saunders, Ascend’s vice president of Europe.
Acquisition to Help Ascend Serve Its Customers Locally
The acquisition, coupled with the new compounding facility in China, will allow Ascend to serve its customers locally around the globe. Ascend now have production, product development and testing capabilities in North America, Asia and Europe. Furthermore, a product developed for a customer in Europe can be quickly replicated and produced across the globe to meet shifting supply chain needs.
Announced in February 2020, the acquisition was put on hold as COVID-19 cases spiked in Italy and then in the United States. “I am extremely grateful to Poliblend’s leadership and our team in Europe for navigating unprecedented circumstances to ensure this deal closed. The safety and health of our people is our highest priority,” said Phil McDivitt, Ascend’s president and CEO.
Source: Ascend