PolyOne Acquires Gordon Composites and Polystrand
PolyOne Corporation, Avon Lake, OH/USA, a global provider of specialized polymer materials, services and solutions, announced the acquisition of two specialty businesses from Gordon Holdings. The acquired businesses, Gordon Composites and Polystrand, design and produce innovative, lightweight, high-performance solutions, utilizing advanced composite technology and state-of-the-art manufacturing capabilities.
Bolstering PolyOne’s existing portfolio of thermoset composite solutions is the acquisition of Gordon Composites,Inc., Montrose, CO/USA, which develops high strength profiles and laminates for use in vertical and crossbow archery, sports and recreation equipment, prosthetics, and office furniture systems. The second acquired business, Polystrand, Inc., Englewood, CO/USA, operates on the leading edge of continuous reinforced thermoplastic composite technology, a next generation material science that delivers the high strength and lightweight characteristics of composites, further enhanced with the design flexibility to form more complex shapes. Current application usage includes materials for the aerospace, transportation, outdoor and security and protection markets.
Both acquired businesses will join PolyOne’s existing portfolio of complementary solutions in a new comprehensive platform to be called PolyOne Advanced Composites. The purchase price for both businesses was USD 85.5 million. The price includes all assets related to the businesses, including intellectual property, trademarks and production assets. PolyOne expects the acquisitions to add $40 million to revenues and be accretive to earnings in 2017.
“With these acquisitions we’ve built upon our past success and portfolio of composite solutions to now serve our customers more comprehensively than ever before,” said Craig Nikrant, president, Specialty Engineered Materials, PolyOne Corporation. “We also have now immediately established PolyOne as a leading innovator and producer of continuous reinforced thermoplastic composite technology. We expect this technology to become a platform of the future for companies whose products demand strength and design flexibility.”
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