Polyplastics USA to Incorporate TOPAS
Polyplastics USA, a subsidiary of Japanese-engineering plastics producer Polyplastics, plans to incorporate its US affiliate TOPAS Advanced Polymers (TAP USA) with effect from Apr. 1. The merger will add TOPAS’ portfolio of cyclic olefin copolymers (COC) to Polyplastics’ US slate of POM acetal polymers, PBT and PPS engineering resins. The combined business will be headquartered at Polyplastics’ US headquarters in Farmington Hills, Michigan.
The Japanese-owned plastics producer, which has held a stake in TOPAS for more than a decade, said the operations merger is a “key milestone” in its efforts to build a strong market presence in the Americas.
“We plan to leverage and further enhance TAP’s global leadership position in COC as Polyplastics moves forward to expand its market reach in the Americas,” Lindsey Deal, president of Polyplastics USA, and Timothy Kneale, president of TAP USA, said in a joint statement.
Polyplastics USA said it is retaining the majority of TAP USA’s personnel to ensure continuity for the growing number of COC customers in the packaging, healthcare, and other industries. For the high performance polymer business, the company said the merger “will deliver additional resources to support the strong growth of COC markets and applications” US sales of COC are said to have more than doubled since its Tokyo-based parent acquired the business in 2005.
The merger will not affect TAP’s Germany-based arm, which will continue to manufacture COC in Oberhausen, Germany, and handle sales for Europe, Middle East, and Africa (EMEA).
The company is regarded as the world’s leading manufacturer of COC, a glass-clear and extremely pure plastic for healthcare, packaging and electronics applications.
