Ascend completes acquisition of Italian firms
Chemical

Ascend completes acquisition of Italian firms

Company has finalized purchase of Poliblend and Esseti Plast which expands its portfolio into other engineered plastics, recycled resins and masterbatches.

  • By Pravin Prashant | September 04, 2020
Ascend Performance Materials has announced the completion of 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 complement our current business exceptionally well,” said John Saunders, Ascend’s vice president of Europe. “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.”
 
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.
 
“This acquisition, coupled with our new compounding facility in China, will allow us to serve our customers locally around the globe,” Phil McDivitt, Ascend’s president and CEO. “We now have production, product development and testing capabilities in North America, Asia and Europe, giving us additional scale to respond to our customers. 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,” said McDivitt. “The safety and health of our people is our highest priority.”
 

Register Now to Attend Petrochem Summit 2024 on Friday, 23rd February 2024, The Park Hotel, New Delhi

Other Related stories

Startups

Petrochemical

Energy

Digitization