Ascend completes the acquisition of Poliblend and Esseti Plast

4 September 2020

As part of its global growth strategy, Austrian or German functional materials (Ascend Performance Materials) completed the acquisition of the Italian company Poliblend and Esseti Plast's. Through this acquisition, Ascend has expanded its product portfolio to include more engineering plastics, recycled resins and masterbatch products.

John Saunders, Vice President of Ascend Europe, said: "Poliblend and Esseti Plast are an excellent complement to our current business. Our experience as a large fully integrated polyamide 66 manufacturer, coupled with Poliblend’s recycled and virgin PA66, PA6 and The POM product portfolio, as well as Esseti Plast's extensive masterbatch business, will provide global customers with more choices of high-quality and high-performance materials."

As part of the acquisition, Ascend established a second production plant in Europe. The acquisition also includes the distribution organization Poliblend Deutschland in Germany.

Phil McDivitt, President and CEO of Ascend, said: "This acquisition, together with our new compound factory in China, will enable us to provide local services to customers around the world. We now have locations in North America, Asia and Europe. Production, product development, and testing capabilities allow us to respond to customer needs on a larger scale. In addition, products developed for European customers can be quickly replicated and produced globally to meet the ever-changing supply chain needs."

The acquisition was announced in February 2020 but was shelved due to the outbreak of the new crown epidemic in Italy and then in the United States. McDivitt said: "I am very grateful to the leadership of Poliblend and our European team for their work to ensure the completion of this transaction in an unprecedented environment. The safety and health of our employees is our top priority."

About Ascend Functional Materials

Ascend Performance Materials produces high-performance materials required for daily necessities and new technologies. We focus on improving the quality of life and inspiring a better tomorrow through innovation. The company is headquartered in Houston, Texas, with regional offices in Shanghai, Brussels and Detroit. We are a fully integrated materials solutions provider with eight global manufacturing plants in the United States, Europe and China. The plastics, fabrics, fibers and chemicals produced by our 2,600 employees worldwide are used to make safer vehicles, cleaner energy sources, better medical equipment, smarter electrical appliances, and longer-lasting clothing and consumer products. We are committed to safety, sustainability, and the success of our customers and communities.

For more information about Ascend , please visit www.ascendmaterials.com .

Disclaimer: The original version of this announcement is the officially authorized version. The translation is only for the convenience of understanding. Please refer to the original text. The original text is the only legally valid version. 

Contacts
Alison Jahn, +1 713-210-9809, [email protected]

 

Source: businesswire.com