LNP Engineering Plastics has purchased Eurostar Services SA from Ferro Corp. LNP claims the acquisition will make it the leading compounder of engineering thermoplastic resins in Europe in terms of sales.
However, the companies do not release sales figures and did not disclose terms of the acquisition.
Eurostar has 50 employees who operate seven compounding lines in a facility in Fosses, France. The plant is a large-volume production facility, using both twin-screw and single-screw extruders.
Robert Schulz, president and chief executive officer of LNP, said the acquisition gives his company as much compounding capacity in Europe as it has in North America. LNP also has compounding facilities in England and the Netherlands. Schulz, speaking in an interview Jan. 2 by telephone from his headquarters in Exton, Pa., said the acquisition also gives LNP the ability to produce a more-complete, standardized line of products in Europe.
LNP expects to fill out its offerings in the European market with midrange engineering thermoplastics, such as glass-reinforced nylons and polypropylene resins, and other flame-retardant, glass-reinforced resins. Previously, LNP's European facilities made top-of-the-line products for its European customers.
Meanwhile, the sale will all but move Ferro Corp. out of the production of engineering thermoplastic compounds in Europe, according to Jay Finch, Ferro vice president for Specialty Plastics. Finch spoke in a Jan. 3 telephone interview from his firm's headquarters in Cleveland.
Ferro will continue to produce commodity thermoplastic compounds, color masterbatches and liquid dispersion masterbatches at its facilities in Spain, the Netherlands, England, France and Portugal, Finch said.
However, its Spanish operation will produce some small amounts of engineering thermoplastics for its existing customers, Finch said.