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Ascend to acquire Italian compounding, masterbatch firms

February 14/2020

MOSCOW (MRC) -- Ascend Performance Materials, an integrated polyamide (PA) 66 supplier, has signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group, according to Kemicalinfo.

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 PA 66, PA 6, PBT and POM.
 
“This strategic acquisition marks an important transformation for our company as we grow our European manufacturing and distribution footprint,” said Phil McDivitt, Ascend’s president and CEO.

Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team. “Combining the shared expertise of our companies creates opportunities to expand our reach while continuing to provide the high-quality products and service that our customers have come to trust,” said D’Ottavio.

Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.
 
As MRC wrote previously, in May 2016, Ascend Performance Materials said it had put plans to build a propane dehydrogenation (PDH) plant on hold because of market conditions. The two-train project at Chocolate Bayou, TX, with a combined capacity of more than 1 million m.t./year of propylene, was expected to become the largest such facility in the United States and cost an estimated USD1.2 billion. It has already been delayed once from the original onstream date of 2016 to mid-2019. Ascend is expected to use the UOP Oleflex PDH technology. 

Propylene is the main feedstock for the production of polypropylene (PP).

According to MRC's ScanPlast report, the estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).

Ascend Performance Materials is a global leader in the production of Nylon 6,6.

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.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PP random copolymer, propylene, compounding, adhesives, poliamid, Ascend Performance Materials, Polyamide PA66, Italy, Russia, USA.
Category:General News
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