2013 Exhibitions
US polymer material firm PolyOne has acquired Glasforms, a manufacturer of glass and carbon fibre-reinforced polymers and advanced composite products, for US$34 million. The purchase marks PolyOne’s entry into advanced composite technology.
Glasforms has grown sales at a 36% compound annual growth rate since 2010 and in fiscal year 2012 achieved revenues in excess of US$50 million. Glasforms manufactures advanced composite products for use in demanding applications across the electrical and telecom, energy, transportation, healthcare, and security and defense markets. End products include applications for endoscopy wands, wind turbine blade stiffening components, commercial truck floors and railcar doors for light-weighting, composite utility poles to replace wood and metal, earthquake-proof bridge decks, and specialized rods used in the production of oil and gas.
“Our acquisition of Glasforms marks yet another important milestone in PolyOne’s transformation, as we further broaden our specialty solutions portfolio to include these new and adjacent technologies and applications,” said Stephen D. Newlin, chairman, president and CEO, PolyOne Corporation. “As with past acquisitions, we will utilise an “invest to grow” strategy and leverage PolyOne’s strengths to further enhance the consistent and strong track record of innovation, performance and growth that Glasforms has achieved in its remarkable history.”
(PRA)
