Two U.S. resin manufacturers report they have reached agreements to purchase resin-making facilities in Europe. AlliedSignal Inc. of Morristown, N.J., said it intends to buy Polymer und Filament Rudolstadt, a nylon and PET resin and fiber manufacturing plant in Rudolstadt, Germany.
Separately, Wellman Inc. of Shrewsbury, N.J., said it plans to buy the PET packaging resin business of Akzo Nobel NV of Arnhem, the Netherlands.
Michael Apperson, sales director for AlliedSignal Engineered Materials, said he expects the plant to be AlliedSignal's central European operations site.
The company plans to invest $140 million in the PFR facility, to upgrade its compounding capabilities and laboratories, and to improve quality and expand polymer production capacity.
Apperson said AlliedSignal reached an agreement with the German state of Thuringia to buy the plant after a Malaysian firm that had agreed to purchase the facility went bankrupt.
AlliedSignal did not release terms of the agreement.
Apperson would not discuss the plant's capacities for nylon or PET. He did say 70 percent of its nylon production was for moldable polymer, while the remainder was for fiber products.
While he said AlliedSignal views the PFR plant as the potential focal point for growth in Europe, his company intends to keep its resin sales and customer service center in Belgium.
Wellman, meanwhile, intends to purchase Akzo Nobel's PET packaging resin business located in Emmen, the Netherlands.
Terms of that deal were not disclosed.
In a statement, Wellman said the business has capacity to produce 100 million pounds of PET packaging resins a year, mainly for bottle makers in Europe.
It employs 60, and includes PET polymerization and solid-stating facilities.
Wellman expects Akzo Nobel to supply it yearly with as much as 75 million pounds of packaging resin.
In its statement, Wellman also said it expects its intended purchase of the Akzo Nobel business to be a focal point of its growth in European markets.