Polyplastics Co., LTD., an important global supplier of engineering thermoplastics, announced that its affiliate TOPAS Advanced Polymers, Inc. (“TAP USA”) will be merged into Polyplastics USA, Inc., effective April 1. The merger will add TOPAS® cyclic olefin copolymer (COC) resins business to Polyplastics USA’s existing portfolio including POM (acetal), polybutylene terephthalate (PBT), and polyphenylene sulfide (PPS) engineering plastics. The combined business will be headquartered at Polyplastics USA’s existing office in Farmington Hills, Michigan. After completion of the merger, TAP USA will no longer exist as a legal entity.
About Polyplastics
Polyplastics USA, Inc.
supplies engineering plastics in the Americas for its Tokyo-based
parent company, Polyplastics Co., Ltd. It has held an ownership
stake in TOPAS Advanced Polymers GmbH for over a decade. The
company, began operations in 2012. Its principal activities include
sales, marketing, application development, and technical support.
Polyplastics Co., Ltd. is based in Tokyo, Japan. It is a global leader in the development and production of engineering thermoplastics including PPS, PBT, COC, LCP and POM. For the latter it has the largest global market share. The company employs more than 2000 people and had revenue of about US$ 1.2 billion in 2017.
Source: Topas Press Release, March 26, 2018
A newly formed joint venture consisting of Alpek, Indorama Ventures and Far Eastern New Century have agreed to purchase the bankrupt M&G USA Corp. PTA-PET plant in Texas for $1.125 billion in cash and other capital contributions. The PTA-PET plant in Corpus Christi is currently under construction. After completion, it is expected to have a capacity of about 1.2 million metric tons per year of PET and PTA, respectively, which will make this plant the largest single vertically integrated PTA-PET production site in the world and the largest PTA plant in the Americas. Each of the three companies of the Joint Venture will have the right to receive one-third of the PTA and PET produced by the Corpus Christi plant.
About Alpek
Alpek is a leading petrochemical company in Mexico. Its main operating business segments are polyester resins and fibers (PTA, PET), polypropylene (PP), expandable
polystyrene (EPS), caprolactam, and many other specialty and industrial chemicals. Alpek is the largest expandable polystyrene manufacturer in the Americas, and the only producer of caprolactam in
Mexico. The company also operates one of the largest polypropylene production plants in North America. In 2017, Alpek had revenues of about U.S. $5.2 billion and EBITDA of U.S. $384 million.
The Company operates 23 plants in the United States, Mexico, Canada, Brazil, Argentina and Chile, and employs more than 5,000 people.
Source: Alpek Press Release, March 21, 2018
Sonoco, a major global packaging company, announced it has signed a definitive agreement to acquire Highland Packaging Solutions for approximately $50 million in cash. The transaction is expected to close in the second quarter of 2018. Highland is a privately-owned manufacturer of large volume thermoformed plastic packaging for fresh produce. The acquisition will strengthen Sonoco's position in the fresh food packaging market.
About Sonoco:
Sonoco is a global manufacturer and supplier of consumer packaging, as well as industrial products. The company has annual net sales of approximately $5 billion. The Company employs about 21,000 people working in more than 300 operations in 33 countries. Sonoco is ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies 2018 list.
Source: Sonoco Press Release, March 22, 2018
Plaskolite LLC, North America’s largest acrylic sheet manufacturer, agreed to acquire the North American polycarbonate sheet manufacturing business of Covestro and Lucite's continuous cast acrylic sheet business. These acquisitions makes Plaskolite the leading manufacturer of polycarbonate and polyacrylic sheets in North America and the only manufacturer in North America that offers a complete clear sheet product portfolio.
About Plaskolite:
Plaskolite is the largest privately owned North American manufacturer of clear thermoplastic sheet products. Its customized products are used in a wide variety of applications, including windows, doors, signs, displays, lighting, and bathroom
sheet products. The company is headquatered in Columbus, Ohio USA and operates several facilities throughout North America and Europe.
Source: Plaskolite Press Release, February 12, 2018 & March 22, 2018
Amcor, one of the leading manufacturer of plastic packaging solutions in the world, agreed to acquire Bemis Company, Inc (“Bemis”) for US$6.8 billion in an all-stock transaction. The combined companies have an expected revenue of US$13 billion, EBITDA of US$2.2 billion and annual cash flow after capital expenditure of more than US$1 billion. Amcor expects noticeable benefits, synergies, and cost savings related to this transaction.
About Amcor:
Amcor (ASX: AMC; www.amcor.com) is a global manufacturer and developer of high-quality, responsible packaging solutions.
The Group's products are sold in a variety of markets including food, beverage, pharmaceutical, medical-device, home and personal
care and other products. The company employs 33,000 people at 200 locations and generates more than US$9 billion in sales from their
operations that span some in more than 40 countries.
Source: Amcor News Release, 3 May 2018 & August 6, 2018
LyondellBasell, one of the largest manufacturer of plastics, chemicals and refining companies in the world, agreed to acquire A. Schulman, Inc. for $2.25 billion. Schulman is a leading global supplier of high-performance engineered plastic compounds, composites and powders. This acquisition more than doubles LyondellBasell's existing compounding business and also broadens the company's market position including high-margin end markets such as automotive, construction materials, and electronic goods.
About LyondellBasell:
LyondellBasell is one of the largest plastics, chemicals and refining companies in the world.
The company produces raw materials, intermediates and products that are
used in a broad range of markerts including lightweight and flexible
packaging, automotive and transportation, renewable energy technologies, piping and textiles. It sells its
resins and chemicals into more than one hundred
countries and is the world's largest producer of polypropylene
compounds and the largest licensor of polyolefin technologies.
Source: LyondellBasell, Corporate & Financial News, February 15, 2018 & August 21, 2018
On October 15, 2018, SK Capital acquired SI Group, a leading global developer and manufacturer of performance additives and intermediates. The transaction includes the merger of SI Group with Addivant, an SK Capital portfolio company since 2013 and a leading global producer of specialty additives. Headquartered in Schenectady, New York, the newly combined company will do business under the SI Group brand and supply additives including antioxidants, antiozonants, inhibitors, polymer modifiers and UV stabilizers used by the plastic industry to improve the properties of performance polymers, plastics and rubbers.
About SI Group
The
SI Group is a major global manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates used in the plastics, oilfield, rubber, fuel & lubricants, active pharmaceutical ingredients and industrial resins industries. Headquartered in Schenectady, New York,
The SI Group operates more than 30 manufacturing sites on five continents with approximately $2 billion in annual sales, and over 3,000 employees worldwide.
Source: Addivant News Release, October 15, 2018
PPG, one of the largest manufacturers of coatings, agreed to acquire Whitford Worldwide Company ("Whitford"), a global manufacturer that specializes in low-friction and nonstick coatings for industrial applications and consumer products. The transaction is expected to close in the first quarter of 2019 subject to customary closing conditions. The addition of Whitford’s low-friction and nonstick coatings to PPG’s portfolio of industrial coatings is highly complementary and will enhance PPG’s range of product offerings, and strengthen its market position in the industrial coating business.
About Whitford:
Whitford, headquartered in Elverson, Pennsylvania, was founded in 1969.
The company manufactures low-friction, wear-resistant coatings for
industrial applications in automotive, aerospace, energy and construction products.
It also produces nonstick coatings for cookware, bakeware, and houshold appliances.
Whitford employs more than 750 people and operates 11 manufacturing facilities in 8 countries.
Source: PPG news release, December 14, 2018
INEOS, a major producer of plastics, resins, composites, and intermediates,
agreed to acquire the entire composites business from
Ashland Global Holdings Inc. The combined businesses of this transaction will generate sales of more than $1.1 billion
per year and will employ about 1,300 people across 20 sites in Europe, North and South America, Asia and Middle East.
About Ashland's Composite Business:
Ashland composite business is a
global leader of unsaturated polyester resins, vinyl ester resins
and gel coats. The company also provides corrosion-resistant fiberglass reinforced plastics
(FRPs) for challenging environments. It's composite resins have been used in the boat building industry for 30 years.
About INEOS:
The INEOS Group Holding is a
multinational chemicals company headquartered in
Rolle, Switzerland. The company produces plastics, resins and
intermediates for all major markets including packaging,
pharmaceuticals, agrochemicals, textiles, consumer goods, building &
construction, and automotive & transportation.
INEOS operates in 24 countries
across the world, has 171 sites, employes over 19,000 people, and generated about $60 billion sales in 2018.
Source: Ineos Company News, 15 November 2018
Intertape Polymer Group Inc. (TSX:ITP) (“IPG”) announced on August 3, 2018 to acquire all of the outstanding equitiy value in Inter Pack Inc. (“Polyair”), a North American supplier of protective packaging
with headquarters in Toronto, Ontario and Chicago, Illinois. PPG agreed to pay approximately $146 million, subject to certain purchase price adjustments.
The strategic acquisition of Polyair allows IPG to expand their offering into a new product line thereby strengthening their overall product portfolio.
About Intetape Polymers:
Headquartered in Montreal, Quebec and Sarasota, Florida, Intertape Polymer Group Inc. is a major producer of paper- and film-based pressure-sensitive and
water-activated tapes, polyethylene and specialized polyolefin films, protective packaging, and engineered coated products and packaging machinery for industrial and retail use. The company employs
approximately 3,700 people at 31 locations, including 22 manufacturing facilities in North America, four in Asia and one in Europe.
Source: Intertape News Release, August 3, 2018
On September 26, 2018, Versalis SpA, the chemicals branch of Italian energy giant Eni,
anounced that it has acquired Mossi Ghisolfi Group's “green” businesses. The aquisition includes the four companies Biochemtex,
Beta Renewables, Ipb (Italian Bio Products) and Ipb energia. Many of their operations focus on the production of biofuels (bio-ethano), biochemical intermediates and bio-based plastics. Versalis’
expects that these acquisitions will strengthen the companies competitive position in the bio-based chemical market and will create synergies with ongoing research projects.
About Eni:
Eni S.p.A. (Ente Nazionale
Idrocarburi) is an Italian multinational oil and gas company
headquartered in Rome. It engages in the exploration, production,
and refining of gas and oil, and is one of the major manufacturers
of plastics and rubbers. The company operates in 73 countries across
the world and employes over 31,000 people. The company generated
revenue of more than EUR 75 billion in 2018.
Source: Eni Press Release, 26 September 2018