Materials maker Ascend Performance Materials has made its fourth acquisition in less than a year, this time buying French compounder Eurostar Engineering Plastics for an undisclosed price.
Fosses-based Eurostar has a broad portfolio of flame-retardant engineered plastics and expertise in halogen-free formulations, according to Houston-based Ascend.
Eurostar employs 60 and operates 12 extrusion lines. The firm makes compounds based on nylons 6 and 6/6 and polybutylene terephthalate, primarily for electrical/electronic uses, Ascend CEO Phil McDivitt said in a Jan. 4 phone interview.
"We needed a fuller line in e-mobility," he added, "and Eurostar makes very high-specialty materials."
Ascend Europe Vice President John Saunders added in a news release that Eurostar's experience in compounded nylons "fits well within our own portfolio and manufacturing capabilities." Eurostar's Starflam-brand materials "are enabling the transitions to clean energy and transportation, and smarter devices," he said.
Ascend is acquiring Eurostar for an undisclosed price from French distribution firm Groupe Gazechim. Eurostar was founded as an independent compounder in 1972 and later went through a series of owners including Ferro Corp., LNP Engineered Plastics, GE Plastics and Saudi Basic Industries Corp. It was bought out by management in 2010 and has been owned by Groupe Gazechim since 2017.
In February 2020, Ascend — a leading maker of nylon 6/6 resins and compounds — acquired Italian materials firms Poliblend and Esseti Plast GD. The deal included a plant in Mozzate, Italy. Esseti Plast is a producer of masterbatch concentrates. Poliblend makes compounds and concentrates based on virgin and recycled grades of nylon 6 and 6/6, PBT and acetal.
Ascend followed that deal in June by entering Asian manufacturing with the acquisition of a compounding plant in China. The firm bought the plant from Chinese firms NCM (Changshu) Co. Ltd. and Tehe Engineering Plastic (Suzhou) Co. Ltd. The plant is located about 60 miles outside of Shanghai. It operates two twin-screw extrusion lines and covers about 200,000 square feet, including warehousing space.