Materials firm Polyplastics Co. Ltd. is merging its Topas Advanced Polymers Inc. business with its Polyplastics USA Inc. unit effective April 1.
The merger will add Topas-brand cyclic olefin copolymer (COC) resins to Polyplastics USA's existing portfolio of acetal, polybutylene terephthalate (PBT), and polyphenylene sulfide (PPS) engineering polymers. The combined business will be headquartered at Polyplastics USA's existing offices in Farmington Hills, Mich. Topas had been based in Florence, Ky.
Polyplastics has held an ownership stake in Topas Advanced Polymers GmbH for more than decade, officials said in a March 26 news release. The merger is a key milestone in Polyplastics's efforts to build a strong market presence in the Americas, they added.
Polyplastics USA has retained the majority of Topas' U.S.-based personnel to ensure continuity for the growing number of COC customers in packaging, health care and other industries where polyolefin performance enhancement is needed. American Topas COC sales have more than doubled since parent Polyplastics, based in Tokyo, acquired the company in 2005.
On completion of the merger, TAP's U.S. business will no longer exist as a legal entity. The merger will have no effect on TAP GmbH's European arm, which will continue to manufacture COC in Oberhausen, Germany, and handle sales for Europe, Middle East, and Africa.
The merger continues a busy stretch for Polyplastics. In mid-2017, the firm the firm bought an X-ray elemental analysis machine to go along with other new laboratory equipment in Farmington Hills. That equipment was installed after doubling space for its laboratory and injection molding area earlier in the year.
Polyplastics opened its Farmington Hills facility in 2012 to support sales of its engineering plastics to automotive, electrical/electronic and consumer electronics markets.