Latest Plastics & rubber News
Ascend Performance Materials Purchases Poliblend and Esseti Plast GD from D’Ottavio Group
Ascend Performance Materials, the largest fully integrated producer of polyamide 66 resin, 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, which consists of virgin and recycled grades of PA66, PA6, PBT and POM. This strategic acquisition will increase Ascend’s footprint in Europe and will provide Ascends customers with a broader portfolio of high-performance, sustainable materials to meet increasing demands.
Headquartered in Houston, Texas, Ascend Performance Materials is the world's largest integrated producer of Nylon 66 resin, and a global supplier of high-quality plastics, fibers and chemicals. The company has nine global locations, including five fully integrated manufacturing facilities in the southeastern United States and an engineering plastics compounding facility in Europe and employs over 2,500 people around the world.
Source: Ascend Press Release, February 12, 2020
BASF Completes Acquisition of Solvay’s Polyamide Business
On January 31, 2020, BASF acquired Solvay’s polyamide (PA 6.6) business
for a purchase price on a cash and debt-free basis of EUR 1.3
billion. The transaction broadens BASF’s polyamide portfolio with innovative and well-known products such as Technyl®.
It also allows BASF to support its customers with superior
engineering plastics solutions for autonomous driving and
e-mobility. The acquisition also gives BASF greater access to growing markets
in Asia and in North and South America. The new business will be integrated into the Performance Materials and Monomers divisions
The transaction between Solvay and BASF includes eight production sites in Germany, France, China, India, South Korea, Brazil and Mexico as well as research and development centers and technical consultation centers in Asia, North and South America.
BASF is a German multinational chemical company founded in 1865 and headquartered in Ludwigshafen, Germany. The company is one of the largest plastics and resin supplier and has one of the most comprehensive plastics portfolios. It also provides a large number of chemicals, dyes, pharmaceutical ingredients and agricultural products. In 2019, BASF employed more than 117,000 people in over 200 countries and generated sales of about US$65 billion.
Source: BASF News Release, January 31, 2020
Huntsman anounces acquisition of CVC Thermoset Specialties Business
On March 16, 2020, Huntsman Corporation (NYSE: HUN), announced that it has agreed to acquire CVC Thermoset Specialties, a North American manufacturer of resins and chemicals for the industrial composites, adhesives and coatings markets. CVC Thermoset Specialties is owned by Emerald Performance Materials who produces and markets specialty chemicals for a broad range of food and industrial applications. CVC operates two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey and has annual revenues of approximately US$115 million. Under the terms of agreement, Huntsman will pay US$300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity.
About Huntsman Corporation
Huntsman Corporation is an North American multinational manufacturer and marketer of chemical products for consumers and industrial customers with revenues of approximately $7 billion in 2019. Its resin portfolio includes epoxy resins, toughening agents, curatives, accelerators, and reactive diluents. The company operates more than 70 manufacturing, R&D and operations facilities in 30 countries and employs approximately 9,000 people within their four distinct business divisions.
Source: Huntsman News Release, March 16, 2020