German compounder Albis Plastic GmbH will build a compounding plant in Duncan, S.C. through a joint venture with U.S. firm William Barnet & Son LLC.
Barnet is a producer, compounder and recycler of resins, fibers and yarn based in Spartanburg, S.C. The JV will operate as Albis Barnet Polymers LLC and will recycle, repelletize and market post-industrial raw materials, as well as use them in the compounding of Altech Eco-brand compounds.
This move sees both Albis and Barnet investing heavily in recycling technology and in the product offering of sustainable compounds in near-to-prime quality, officials said in a Sept. 1 news release.
The JV “unites the strengths of both partner companies,” Albis Plastic CEO Phillip Krahn said. He described the JV as “a direct market access point to post-industrial raw material qualities and repelletizing expertise, as well as compounding and product development competence.”
The plant will have around 33 million pounds of annual capacity for engineering compounds. It's expected to open during the second quarter of 2017. Hamburg-based Albis will be majority owner of the JV.
Officials added that South Carolina is a hub of the U.S. auto industry, making the site an ideal point of access to an important target market. As part of the deal, Albis also will be taking over Barnet's polymer business in Europe, including production sites in Obernburg, Germany; and Humenné, Slovakia.
Through these investments, ALBIS will increase its global production capacity — including compounding and repelletization — by more than 130 million pounds per year, including more than 30 million pounds in Europe.
Albis employs just over 1,000 worldwide and posted sales of more than $1 billion in 2015. The firm operates two compounding and masterbatch concentrates sites in Germany and one each in England and China.
Barnet employs more than 400 globally, working with resins, fibers and yarns based on polyester, nylon, acrylic, polypropylene and viscose. The firm sells more than 400 million pounds of products annually. Barnet was founded as a textile maker and trader in Albany, N.Y., in 1898.