Ascend Performance Materials has signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group. The acquisition includes a manufacturing facility in Mozzate, Italy, the masterbatch portfolio of Esseti Plast GD and the engineering plastics portfolio of Poliblend.
An Important Transformation for Ascend
The strategic acquisition marks an important transformation for Ascend to grow its European manufacturing and distribution footprint. The deal will also help the company to provide its customers with a broader portfolio of high-performance, sustainable products to meet increased demand.
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The ability to offer our sustainable products in an ever-changing global business environment is a game-changer for Ascend,” said John Saunders, Ascend’s European leader.
Acquisition Expected to Close in Second Quarter
Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team. The acquisition is expected to close in the second quarter.
Founded in 1999, Poliblend offers compounding and masterbatch services, including color and additive concentrates that enhance the appeal and end-use performance of plastics products, packaging and fibers. Its certifications include ISO 9001, ISO 14001 and ISO TS 16949.
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This is an exciting chapter for Poliblend. Combining the shared expertise of our companies create opportunities to expand our reach while continuing to provide the high-quality products and service that our customers have come to trust,” said D’Ottavio.
Source: Ascend