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PolyOne secures US engineered fibre and composites company
PolyOne Corporation, a US-based global provider of specialised polymer materials, services and solutions has acquired Fiber-Line, a US-headquartered specialist in customised engineered fibres and composite materials for US$120 million.
Founded in 1987, Fiber-Line has utilised its customer-centric culture and specialty innovation to establish a leading portfolio of materials serving the fibre optic cable, oil & gas, industrial and consumer industries. With five manufacturing locations in North America, Europe and Asia, Fiber-Line provides material science and polymer formulation expertise to engineer specified performance characteristics for fibre. These include strength, abrasion and chemical resistance, and specialty colorants.
"Fiber-Line is an innovative and unique addition to our portfolio of fiber and composite solutions with tremendous upside for growth," said Robert M. Patterson, Chair/President/CEO of PolyOne. "They provide an immediate leadership position in serving the build out of fiber optic cable and future 5G networks."
Patterson added, "This acquisition represents a significant investment for our Specialty Engineered Materials segment. We expect it to add nearly US$100 million in revenue in 2019 and be immediately accretive to EPS."
Fiber-Line's leading technologies complement PolyOne's existing specialty composite solutions and wire & cable applications. PolyOne will utilide its proven invest-to-grow integration strategy to increase innovation for Fiber-Line customers, by leveraging deeper formulation expertise and a global commercial presence that accelerates growth.
Dale Outhous, CEO of Fiber-Line commented: "Through PolyOne's future investments in Fiber-Line's technical capabilities, operations and commercial reach, we will be able to serve our customers better than ever before."
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