Friedrichshafen, Germany — Nexeo Plastics is seeing solid results in 2021 as the materials supplier integrates a recent acquisition.
"We're involved in all end markets and want to have balance," Joost d'Hooghe, EMEA region vice president, said Oct. 14 at Fakuma 2021 in Friedrichshafen. "Health care and food packaging are doing well, while some markets related to COVID have slowed down a little bit.
"We're not overexposed to any one industry," he added. "We want to make sure we have as many options as possible for our customers."
Nexeo, which is based in The Woodlands, Texas, distributes resins and compounds in North America, Europe and Asia for more than 30 suppliers. The firm has annual sales estimated at around $2 billion.
In January, Nexeo parent One Rock Capital Partners LLC — through its GPD Cos. Inc. unit — acquired European resin distributor Distrupol. Nexeo had competed with Chertsey, England-based Distrupol in some parts of Europe. The two businesses continue to operate independently of each other.
Distrupol sells more than 4,000 grades of material to more than 1,300 customers. The business distributes resins and compounds from 22 suppliers.
Then in June, Nexeo acquired Nevicolor SpA, a resin distributor and compounder based in Luzzara, Italy. Nevicolor serves more than 800 customers with a portfolio of more than 3,000 polymer grades, including recycled materials.
D'Hooghe said Oct. 14 that Nexeo "is still looking at a number of acquisitions."
"We're investing in people and looking to add services around the world as we continue to grow," he said.
Nexeo also has seen continued interest from its customers in sustainable materials, including those with recycled content.
Like many materials firms, Nexeo has been challenged by supply issues in the last 18 months. D'Hooghe said Nexeo's supply situation has improved, but some challenges could continue into the first quarter of 2022.
"The last year has really shown how critical supply chains are," he said.