The acquisition of Poliblend and Esseti Plast will enable Ascend to expand its portfolio into other engineered plastics, recycled resins and masterbatches
Ascend has completed acquisition of Italian firms Poliblend and Esseti Plast. (Credit: Tumisu from Pixabay)
Ascend Performance Materials has completed the acquisition of Italian companies Poliblend and Esseti Plast from D’Ottavio Group for an undisclosed sum.
The acquisition of Italian firms, announced in February 2020, will allow Ascend to expand its portfolio into other engineered plastics, recycled resins and masterbatches.
Ascend Europe vice president John Saunders said: “Our experience as a large-scale, fully integrated polyamide 66 manufacturer coupled with Poliblend’s portfolio of recycled and virgin PA66, PA6 and POM, and Esseti Plast’s extensive masterbatch operations will offer our customers more choices for quality, high-performance materials on a global scale.”
The acquisitions allow Ascend to establish its second production facility in Europe
The purchase of both firms allows Ascend to establish its second European production facility in Mozzate, Italy. Poliblend Deutschland, a German distribution facility, is also part of the acquisition.
Established in 1999, Poliblend provides compounding and masterbatch services such as colour and additive concentrates that improve the appeal and end-use performance of plastics products, packaging and fibres.
Poliblend’s engineering plastics portfolio includes virgin and recycled grades of PA66, PA6, PBT and POM. Esseti Plast GD offers masterbatch product solutions.
Poliblend’s president Giancarlo D’Ottavio will continue to manage Poliblend’s operations and join Ascend’s European management team.
Ascend president and CEO Phil McDivitt said: “This acquisition, coupled with our new compounding facility in China, will allow us to serve our customers locally around the globe.
“We now have production, product development and testing capabilities in North America, Asia and Europe, giving us additional scale to respond to our customers.
“Furthermore, a product developed for a customer in Europe can be quickly replicated and produced across the globe to meet shifting supply chain needs.”