Ascend announced that it has completed the acquisition of Italian companies Poliblend and Esseti Plast. The Houston-based material supplier said that through this acquisition, Ascend will expand its product portfolio to other engineering plastics, recycled resins and masterbatches.
"Poliblend and Esseti Plast can complement our current business well," said John Saunders, Vice President of Ascend Europe. "Our experience as a large, fully integrated polyamide 66 manufacturer, coupled with Poliblend's recycled and pure PA66, The PA6 and POM product portfolio, as well as Esseti Plast's extensive masterbatch business, will provide customers with more high-quality, high-performance material choices on a global scale." Saunders said.
The acquisition opened up its second European production plant for Ascend and supplemented its plant in Tilburg, the Netherlands. The acquisition also includes the distribution organization Poliblend Deutschland in Germany.
"This acquisition, coupled with our new compound factory in China, will enable us to serve customers all over the world." Ascend President and CEO Phil McDivitt commented, "We now have production in North America, Asia and Europe. , Product development and testing capabilities, which allow us to respond to customers 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 first announced in February 2020, but was shelved due to current circumstances. McDivitt said: "I am very grateful to Poliblend's leadership and our team in Europe for mediating in an unprecedented environment to ensure that this transaction is reached. The safety and health of our people is our top priority."