DÜSSELDORF, GERMANY (Oct. 31, 10:40 a.m. EST — In its first acquisition since being formed 13 months ago, PolyOne Corp. announced Oct. 30 that it has agreed to purchase Transcolor SA, a color concentrates producer headquartered near Pamplona, Spain, for an undisclosed amount.
The deal, due to be completed in the new year, gives PolyOne its first colorants operations in southern Europe, according to Bernard Baert, vice president international.
Cleveland-based PolyOne, born of a merger between Geon Co. and M.A. Hanna Co., has been working closely for some time with Transcolor, which will have 2001 sales of about $30 million and annual production capacity of about 44 million pounds.
The Spanish firm, whose management team will remain in place, has been making some products that PolyOne previously made at its site at Saint-Ouen L'Aumone, France, near Paris. That alliance has allowed PolyOne to free capacity at the French plant, and focus on making color additive systems there, Baert said at K 2001 in Dusseldorf.
Transcolor specializes in black and white products, but will not be limited to those lines. The firm was founded more than 30 years ago and is ISO 9000 accredited.