PolyOne has been expanding its TPE portfolio through its GLS business. Pictured here is GLS Skin Sensitive TPEs. Credit: PolyOne
PolyOne has acquired certain TPE technologies and assets from Kraton Performance Polymers for $72 million USD (approx. £49.5m GBP) as it looks to expand its global footprint in thermoplastic elastomer innovation and design.
The two companies also entered into a supply agreement, whereby Kraton will provide PolyOne certain raw materials used in production for the acquired business.
The end markets utilising the acquired technologies span new and fast growing applications in adhesive and removable protective films, says PolyOne, as well as existing applications served by the company, such as packaging, medical devices and personal care products.
"Since our highly successful TPE acquisition of GLS in 2008, we've continually invested in, globalised and grown in TPE innovation and its broad value-added uses," said Robert M. Patterson, President and Chief Executive Officer, PolyOne Corporation. "We are very pleased to have made this investment for our customers and their product design, development and performance goals."
"I view this transaction as a win for both companies, and most importantly, for our respective shareholders and customers," said Kevin M. Fogarty, president and chief executive officer of Kraton. "It allows PolyOne and Kraton to focus on our core competencies and help our customers with new and unique solutions that differentiate them in the marketplace."