PMC Group Polymer Products has bolstered its already-strong positions in compounded, flame-retardant and high-impact polystyrenes with the Oct. 12 purchase of several PS product lines that Nova Chemicals Corp. had decided to exit.
``It makes us the No. 1 supplier of compounded PS in North America,'' said Don Barber, general manager of PMC Group Polymer Products of Stockertown, Pa., in an Oct. 13 phone interview. No assets were included in the sale - only the product lines and customer lists.
He said the acquisition of the Zyntar ignition-retardant, flame-retardant, high-impact styrenic polymer line and certain other pre-colored solid PS lines are ``really a good fit'' because the formulations are similar and they can be made on existing equipment.
``We are very encouraged by our initial contacts with customers, and I think we will be able to retain a majority of the business,'' said Barber, adding that PMC would begin taking orders from customers Oct. 16. ``Our focus today is on making the transition for the customer as smooth and as uneventful as possible.''
Sources said the acquisition could increase that business segment by 20 percent or more for PMC Group Polymer Products. The overall market is expected to grow at the same rate as the gross domestic product, with the company benefiting from its position as a market leader.
PMC Group Polymer Products supplies flame-retardant concentrates and compounds.
The company is a subsidiary of PMC Group of Mount Laurel, N.J. For Nova, the exit is part of a strategy it announced in June.