PolyOne buys Glasforms for $34 million

Published: December 20, 2012 6:00 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Suppliers, Construction

AVON LAKE, OHIO (Dec. 20, 11:20 a.m. ET) — PolyOne Corp. said it has acquired Glasforms Inc. of Birmingham, Ala., a maker of glass and carbon fiber-reinforced polymers and advanced composite products, for $34 million.

Avon Lake-based PolyOne said the purchase marks the company’s entry into advanced composite technology. Glasforms has grown sales at a 36 pecent compound annual rate since 2010, and in fiscal 2012 had sales in excess of $50 million.

Glasforms makes advanced composite products for use in the electrical and telecommunications, energy, transportation, health care, and security and defense markets. End products that use Glasforms' products include endoscopy wands, wind turbine blades, commercial truck floors and railcar doors, composite utility poles, earthquake-proof bridge decks, and specialized rods used in the production of oil and gas.

"Our acquisition of Glasforms marks yet another important milestone in PolyOne's transformation, as we further broaden our specialty solutions portfolio to include these new and adjacent technologies and applications," Stephen Newlin, PolyOne chairman, president and CEO, said in a statement.

PolyOne said Glasforms will continue to operate from its Birmingham campus, which includes six buildings and room for expansion. The company employs about 300, and its founder and president, Peter Pfaff, will continue in his leadership role along with other members of the Glasforms management team, PolyOne said.

Glasforms will be part of PolyOne’s Specialty platform, under the direction of Craig Nikrant, senior vice president and president of global specialty engineered materials.

The Glasforms deal caps a busy year on the mergers and acquisitions front for PolyOne, which in October announced the planned purchase of Spartech Corp. for $393 million. PolyOne is the largest compounder in North America, according to Plastics News estimates, with an estimated market share of 10-11 percent.


Comments

PolyOne buys Glasforms for $34 million

Published: December 20, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Producers urge booming Brazilian housing market to use EPS

April 18, 2014 1:08 pm ET

Leaders in Brazil's plastics industry are asking lawmakers to mandate the use of expandable polystyrene (the raw material for expanded EPS) in new...    More

JM Eagle reopens shuttered Colorado plant with 8 PVC lines

April 18, 2014 1:02 pm ET

JM Eagle has reopened its Pueblo, Colo., plant with eight PVC pipe extrusion lines back in operation following an 18-month shutdown.    More

Image

'Thermoforming has nearly limitless possibilities'

April 18, 2014 12:54 pm ET

Julie McAlindon of PolyOne Corp. speaks about the future of thermoforming and the integration of Spartech Corp.    More

Image

Ascend targets nylon for auto applications, opening propylene monomer unit in Texas

April 18, 2014 10:57 am ET

Materials firm Ascend Performance Materials Inc. is in full operation at its new nylon 6/6 compounding line in Florida and will break ground by the...    More

Dutch company launching $100 million PP, PE recycling plant

April 18, 2014 10:42 am ET

Quality Circular Polymers is building a new plastics recycling operation in Geleen, the Netherlands' Chemelot industrial chemical site, with a capacit...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events