Page 51 - Plastics News February 2020

Business news

Ascend buys Engineered Polymers and Masterbatch businesses from

D’Ottavio Group

scend Performance Materials, the largest fully while continuing to provide the high-quality products and
Aintegrated producer of polyamide 66 resin, recently service that our customers have come to trust.”
announced that it has signed an agreement to buy
Plastic Molding Technology
Poliblend and Esseti Plast GD from D’Ottavio Group. This
expands in El Paso, Texas

ustom injection molder Plastic Molding Technology
CInc. is expanding its total footprint in El Paso, Texas,
to nearly 100,000 square feet by leasing additional
space. The company announced the project recently
this month, and said it expects to move into the
39,000-square-foot space by the fourth quarter of 2020.
The new space will allow the company to focus on new
technology and value-added services."The decision to
purchase by Ascend consists of a manufacturing unit in expand within our current building footprint means
Mozzate, Italy, the masterbatch portfolio of Esseti Plast we can seamlessly add more capabilities and capacity
GD and the engineering plastics portfolio of Poliblend, without a disruptive move to a new location," CEO
which consists of virgin and recycled grades of PA66, PA6, Charles A. Sholtis said. The expansion means PMT will
PBT and POM. However, the terms of the transaction were now occupy the entire building at 12280 Rojas Drive in
not disclosed. The acquisition is expected to close in the El Paso.Adding space fits into PMT's plan to expand its
second quarter.Talking about the purchase, Phil McDivitt, medical molding capabilities. The company is currently
Ascend’s president and CEO of Ascend, “This strategic preparing to install four all-electric molding machines,
acquisition marks an important transformation for our
company as we grow our European manufacturing and
distribution footprint.” it helps us provide our customers
with a broader portfolio of high-performance, sustainable
products to meet increasing demand, highlights Phil.
Adding to Phil, John Saunders, Ascend’s European leader,
says, “The ability to offer our sustainable products in
an ever-changing global business environment is a game
changer for Ascend.”It is to be noted that Poliblend was
founded in 1999 and offers compounding and masterbatch
services that consist of color and additive concentrates to
enhance the appeal and end-use performance of plastics ranging up to 165 tons, into a new medical molding
products, packaging, and fibers. Some of the certifications center. PMT also is working toward both ISO 13485 and
that the company boasts of are ISO 9001, ISO 14001 and ISO 14001 certification. PMT has 62 injection presses
ISO TS 16949.Giancarlo D’Ottavio, Poliblend’s current and ranked No. 229 in Plastics News most recent survey
president, will continue to run Poliblend’s operations and of North American injection molders, with 2018 sales
will join Ascend’s European management team. Defining of $24 million. Sholtis said with the final signing of the
the acquisition as an exciting chapter for Poliblend, NAFTA replacement, USMCA, he expects PMT will see
Giancarlo, says, “Combining the shared expertise of our growth serving major international assembly operations
companies creates opportunities to expand our reach across the border in Mexico.

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51 Februar y 2020 Plastics News