Page 52 - Plastics News June 2019

BUSINESS NEWS

Mitsubishi Chemical Advanced Materials acquires Avanced Polymer

Technologies

itsubishi Chemical Advanced Materials, the several advanced engineering grades of thermoplastics.
Mleading global manufacturer of high-performance This, coupled with their high level of quality and service,
thermoplastic material has acquired Advanced Polymer will enhance our goal to be an agile, customer-focused
Technologies (APT) for $14M. With the addition of manufacturer.
Advanced Polymer Technologies, both companies can
capitalize on their synergies in the engineering polymer
industry especially focused on state of the art injection IOP acquires United Poly
molding, extrusion technologies and service. Mitsubishi Systems
Chemical Advanced Materials world-wide network of

ndustrial Opportunity Partners (“IOP”), an operations-
Ifocused private equity firm based in Evanston,
Illinois has acquired United Poly Systems LLC (“UPS”
or the “Company”), in partnership with the current
management team. However,
industry partners and customer relationships will benefit the terms of the transaction
from the support while bringing new technologies, were not disclosed. UPS is a
specialized skills and market expertise into the group. manufacturer of made-to-
Michael Koch, CEO of Mitsubishi Chemical Advanced order high density polyethylene
Materials said "The acquisition enhances our ability to (“HDPE”) pipe for use in multiple
incubate and develop new solutions for the customer, end markets and applications.
pursuing our mission of metal to plastic conversion, The Company manufactures
which began more than 80 years ago. Mitsubishi both HDPE pressure pipe for
Chemical Advanced Materials, a fully owned subsidiary fluid transmission and HDPE duct
of Mitsubishi Chemical Corporation. (Tokyo, Japan), / conduit pipe for cable and electrical transmission.
identified Advanced Polymer Technologies as leaders in The Company is headquartered in Springfield, Mo., with
their areas of expertise and plans to preserve Advanced an additional manufacturing facility in Albuquerque.
Polymer Technologies unique market identity. Strategic IOP is partnering in its investment with the Company’s
corporate development activities, such as the Advanced founders, Jim Massengale Jr. and Bert Bridges, and
Polymer Technologies acquisition, contribute to Mitsubishi the Company’s management team, all of whom have
Chemical Advanced Materials ability to grow rapidly and ownership interests and will remain in their current
consistently while maintaining quality and innovation." leadership roles. In addition, Norm Young, an IOP
For more than 17 years, Advanced Polymer Technologies Operating Principal, will assume the position of
has excelled at providing advanced engineering plastic Chairman. Mr. Young is a member of IOP’s Board of
solutions via unique polymer conversion technologies to Operating Principals which is comprised of experienced
strategic global influencers in North America and Asia executives who provide leadership to the businesses
in the Semiconductor, Aerospace/Defense, Energy and in which IOP invests. Kyle Hood, Director of IOP, said,
Medical industries. Both Mitsubishi Chemical Advanced “We are excited to partner with the UPS team. We
Materials and Advanced Polymer Technologies adhere to believe that UPS has an excellent reputation with its
a superior level of quality and performance standards. customers and strong end-market demand drivers.”Mr.
The acquisition will add one additional manufacturing Young added, “We look forward to partnering with
facility to Mitsubishi Chemical Advanced Materials' already the UPS management team in continuing to serve the
established seven U.S. facilities, enhancing their North Company’s customers with a focus on high levels of
American footprint. "APT has an impressive history of service and expanding UPS’ production capacity and
servicing the current and emerging market needs for product offering.” Scott Franklin, UPS CEO, said, “ we
are looking forward to our partnership with IOP.

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