RadiciGroup Performance Plastics to buy Polymer Solutions from US Invista
RadiciGroup Performance Plastics, a producer of polyamide, PBT, TPE and POM engineering plastics, and a leading business area of RadiciGroup, an Italian manufacturing multinational with diversified businesses focusing on chemicals, plastics, synthetic fibres and nonwovens announced the signing of an agreement for the acquisition of the Engineering Polymer Solutions business of the American company Invista
With this acquisition, RadiciGroup will be able to further strengthen and expand its presence in both the American and European markets. The closing of the transaction is expected within 60 days.
This transaction represents an important step in RadiciGroup’s development plans. As already announced by the Group in the past months, its growth strategy includes acquisitions that could increase its market share in the nylon business. Now RadiciGroup Performance Plastics has achieved another objective of its strategy by acquiring the engineering polymer business from Invista, a company with which the Group has had an excellent and strong business relationship. This aspect has certainly facilitated the transaction.
With the acquisition of Engineering Polymer Solutions, RadiciGroup Performance Plastics will be able to significantly increase its production capacity in the United States and in Europe, where Invista currently has two production plants (in Chattanooga, TN, and Born, The Netherlands, respectively). RadiciGroup expects to consolidate assets in Chattanooga with their existing manufacturing facilities in North America (Radici Plastics USA Inc., Wadsworth, OH, and Radici Plastics Mexico S. de R.L. de C.V., Mexico). Moreover, the Group will be in a position to take advantage of and synergistically combine competencies, know-how, technologies and state-of-the-art production facilities. OEM approvals will be valid and usable worldwide in industries such as automotive, electrical/electronics, industrial and consumer goods. A further value added will be gained from the respective competencies in sales and brand positioning of the brands Torzen and Radilon.
RadiciGroup has six plastics production plants located on four continents and sales sites in many countries across the globe, so as to be close to its customers, understand their needs and be able to provide all the necessary assistance starting from the research and development stage. A local presence, in fact, allows our qualified technicians to be on hand and recommend the best RadiciGroup plastic compounds for the application in question in order to achieve the best possible performance.