Ascend to Buy Poliblend and Esseti Plast
US polyamide giant Ascend Performance Materials, which lays claim to being the world’s largest fully integrated producer of PA 6.6 resin, is acquiring Poliblend and Esseti Plast GD from Italy’s D’Ottavio Group.
Terms of the deal, which is expected to close in this year’s second quarter, were not disclosed.
Along with Esseti’s masterbatch portfolio and Poliblend’s engineering plastics compounding portfolio, which comprises both virgin and recycled grades of PA 6.6, PA 6, PBT and POM, Ascend will also pick up a manufacturing facility in Mozzate, Italy.
Giancarlo D’Ottavio, Poliblend’s president, will continue to run that company’s operations and will also join Ascend’s European management team.
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 manmade fibers
Ascend’s president and CEO Phil McDivitt, said the strategic acquisition marks an important transformation for the company it grow its European manufacturing and distribution footprint. “More importantly,” he said, “it helps us provide our customers with a broader portfolio of high-performance, sustainable products to meet increasing demand.”
