Italian polymers major RadiciGroup Performance Plastics has acquired the engineering polymer solutions business of the US-based Invista. With this acquisition, RadiciGroup – one of the leading global producers of nylon, PBT, TPE and POM engineering plastics - will be able to further strengthen and expand its presence in both the American and European markets.
This transaction represents an important step in RadiciGroup’s development plans. As already announced by the Group in the past months, its growth strategy includes acquisitions that could increase its market share in the nylon business. Now RadiciGroup Performance Plastics has achieved still another objective of its strategy by acquiring the engineering polymer business from Invista, a company with which the Group has had an excellent and strong business relationship. This aspect has certainly facilitated the transaction.
With the acquisition of Engineering Polymer Solutions, RadiciGroup Performance Plastics will be able to significantly increase its production capacity in the US and in Europe, where Invista currently has two production plants in (Chattanooga, Tennessee, and Born, The Netherlands, respectively).
RadiciGroup expects to consolidate assets in Chattanooga with its existing manufacturing facilities in North America (Radici Plastics USA Inc, Wadsworth, Ohio and Radici Plastics Mexico). Moreover, the Group will be in a position to take advantage of and synergistically combine competencies, know-how, technologies and state-of-the-art production facilities.