On January 2, 2019, PolyOne Corporation, a leading global provider of professional polymer materials, services and solutions, announced the acquisition of Fiber Line, a global leader in custom engineered fibers and composites, for $ 120 million.
Founded in 1987, Fiber-Line leverages its customer-centric culture and professional innovation to establish a leading materials business serving fiber optic cables, oil and gas, industrial and consumer industries. Fiber-Line has five manufacturing sites in North America, Europe, and Asia, providing material science and polymer formulation expertise to design specific engineering performance characteristics of fibers. These characteristics include strength, abrasion and chemical resistance, as well as special colorants.
Robert M. Patterson, Chairman, President and CEO of PolyOne, said, "Fiber-Line is an innovative and unique complement to our fiber and composite solutions business, with tremendous growth advantages. They are in fiber optic cables And the construction of future 5G networks occupies a direct leadership position. "
Mr. Patterson added: "This acquisition is a significant investment in our Special Engineering Materials Division. We expect the company to increase revenue by nearly $ 100 million in 2019 and immediately increase earnings per share."
Fiber-Line's leading technology complements PolyOne's existing specialty composite solutions and wire and cable applications. PolyOne will use its mature investment growth integration strategy to provide innovative solutions for fiber optic customers by leveraging deeper formulation expertise and accelerating global business presence.
"Joining the PolyOne team represents another important and exciting milestone for Fiber-Line employees and our valued customers," said Fiber-Line CEO Dale Outhous. "With PolyOne's future investment in Fiber-Line technology capabilities, operations and business scope, we will be able to serve our customers better than ever."
Mr. Patterson added: "We are very pleased to welcome Dale and his successful Fiber-Line management team to PolyOne. By strengthening cooperation with our customers, we will seize the near-term growth prospects and expand from the 5G network expansion Benefits. In the long run, we expect future growth to be driven by significant technological synergies between fibers and composites, and we will achieve this goal with special colorants and coatings that PolyOne is very good at developing. "