Ancos has grown its polymer tolling business by acquiring solid-stating assets in Darlington, S.C., from PolyQuest Inc.
No purchase price was disclosed in the deal. The transaction includes part of a facility in Darlington, as well as related equipment, Ancos President Chris Nichols said in a July 22 phone interview.
“We're really excited, because this fits really well with our portfolio,” Nichols said. “Our real expertise is in tolling polymers, and this will give us really good assets with a good path for growth.”
PolyQuest had been using the site to solid-state PET resin. Ancos will continue to do so and likely will run grades of nylon and polybutylene terephthalate there as well, Nichols said. Ancos also has purchased uninstalled drying equipment that can be added to the Darlington site. Future growth could include equipment for blending, material handling, cryogenic grinding and jet milling, he added.
Ancos is a unit of Rice Industries LLC of Richmond, Va. Rice is an operating company formed in 2012. It includes Ancos — which has a tolling operation in Disputana, Va. — and Jet Pulverizer, a maker of milling equipment and provider of tolling services in Moorestown, N.J.
“We're exclusively in tolling,” Nichols said. “We want to be a best-in-class toller. We view tolling as a critical part of the supply chain.”
Wilmington, N.C.-based Polyquest will continue to operate PET recycling and distribution operations in Darlington.