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Terms of the transaction were not disclosed.
February 13, 2020
By: Anthony Locicero
Copy Editor, New York Post
Ascend Performance Materials said it signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group. The acquisition includes a manufacturing facility in Mozzate, Italy, the masterbatch portfolio of Esseti Plast GD and the engineering plastics portfolio of Poliblend, which consists of virgin and recycled grades of PA66, PA6, PBT and POM. “This strategic acquisition marks an important transformation for our company as we grow our European manufacturing and distribution footprint. More importantly, it helps us provide our customers with a broader portfolio of high-performance, sustainable products to meet increasing demand,” said Phil McDivitt, Ascend’s president and CEO. Poliblend was founded in 1999 and offers compounding and masterbatch services, including color and additive concentrates that enhance the appeal and end-use performance of plastics products, packaging and fibers. Its certifications include ISO 9001, ISO 14001 and ISO TS 16949. “The ability to offer our sustainable products in an ever-changing global business environment is a game-changer for Ascend,” said John Saunders, Ascend’s European leader. Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team. Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.
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