Materials firm Ampacet Corp. is moving ahead with "a refreshed focus" on innovation, expansion, global support and sustainability.
Officials with Tarrytown, N.Y.-based Ampacet announced the strategy in a June 18 news release. President and CEO Yves Carette said in the release that officials "believe that a company should always be moving forward. …This means that periodically we must reassess and realign and shift our priorities."
In addition to a new logo, tagline and website, Ampacet is "rebalancing" to focus on color, special effects and advanced functional additives. In a June 15 interview with Plastics News, Carette said that although the company already makes these types of products, it sees future growth in those areas and wants to use its expertise to supply customers.
Ampacet, which ranks as one of the world's largest makers of color and additive concentrates, also is broadening its geographic approach to include more of the Middle East, Africa and Asia. The firm already operates 25 plants in 18 different countries, but is "reassessing its investment plans," Carette said.
"We think we can leverage areas we're already in like India and Russia, and we're opening a new plant in Dubai," he added. The Dubai site will be operational within the next two months and will officially open in October, making color and additive concentrates. It's the first new plant for Ampacet since the firm opened one in Dandenong, Australia, in August 2017.
Ampacet additionally is looking to increase its presence in several end markets, including appliances, automotive, health care, 3D printing and aerospace.
"We've been pretty heavy in packaging, and we're not pulling back from that, but we're looking at different markets," marketing and global business vice president Michael Gaudio said June 15.
Those end markets will take Ampacet into new base polymers and into more compounding work, he added. The firm historically has done large volumes of materials based on polyethylene and polypropylene, but now will be doing more work in nylon, polycarbonate, PET, acetal and similar resins, Gaudio explained.
"When you look at the megatrends, these markets are where we want to be," Carette said, adding that Ampacet also is interested in growing through acquisitions.
Ampacet's approach to sustainability will continue to include products that improve the performance of recycled materials, as well as some that are biobased or biodegradable. Officials said that the firm "is taking an active role in promoting the circular economy … and is encouraging suppliers to do the same."
They added that Ampacet employees will be participating in local recycling programs and projects as well.
Ampacet employs more than 2,000 worldwide and posted sales of $1.1 billion in 2017. Carette said that global sales so far in 2018 are on pace to be up 6-7 percent.