CLEVELAND, June 1, 2018 /PRNewswire/ -- PolyOne Corporation (NYSE: POL), a premier global provider of specialized polymer materials, services and solutions, today announces the acquisition of PlastiComp, an advanced engineered materials innovator and producer of specialty composites.
Founded in 2003 by industry veteran and composite pioneer Stephen Bowen, PlastiComp has steadily grown through its ability to replace metal and lightweight products with unique and complex long fiber technology (LFT) composite formulations. Inherent benefits of LFT-based materials include high strength and stiffness, design freedom, fatigue endurance, corrosion and wear resistance, EMI shielding, and recyclability.
Through its Complēt® product lines and design capabilities, the company serves global customers in a wide-range of demanding applications, including medical devices, robots and drones, marine, and outdoor high performance equipment. PlastiComp's 50 employees and its design and production facility in Winona, Minnesota join PolyOne as part of the Specialty Engineered Materials segment.
"I'm thrilled to welcome Steve, the PlastiComp employees and their valued customers to the PolyOne team," said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. "We are very excited to accelerate commercial and operational investments to further expand this important composite technology as part of our advanced composites portfolio."
"As we looked to take this business and our customers to the next level, PolyOne was the natural choice," said Mr. Bowen. "PolyOne's comprehensive approach to design, service and innovation in thermoplastics and composites will enable us to forge even further ahead with our LFT technology, and I'm excited that our teams have joined together in collaboration for the future."
PolyOne Corporation (NYSE: POL), with 2017 revenues of $3.2 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises PledgeSM, PolyOne is an ACC Responsible Care® certified company committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles. For more information, visit www.polyone.com.
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SOURCE PolyOne Corporation