Materials firm Ingenia Polymers Corp. has acquired a toll compounding plant in Texas from LyondellBasell Industries.
The plant in LaPorte had operated as Bayshore Industrial. LBI, based in Houston and London, picked up the 100-employee plant in 2018 as part of its purchase of A. Schulman Inc. Schulman had owned the plant since 2010, when it was acquired as part of Schulman's purchase of ICO Inc.
Officials with Houston-based Ingenia said in a March 10 news release that the acquisition "brings added expertise and capacity to [Ingenia's)] existing world-class team and infrastructure." The deal also "increases [Ingenia's] leadership in the polymer producer services market and expands its capability to serve the converter market."
"We are committed to serving the industry with the best quality and service in the market, and our acquisition of the Bayshore operations reflects that commitment," Ingenia founder and CEO John Lefas said in the release.
No purchase price was disclosed in the transaction, which was finalized on March 2.
Ingenia was founded in 1986 as WedTech Inc. The firm makes compounds as well as white, black, color and additive concentrates at plants in the U.S., Canada and Saudi Arabia. Ingenia also offers a variety of services including blending and size reduction. Markets served by the firm include rotational molding, pipe and film.