17 July 2008
17 July 2008
Addcomp has acquired the entire Priex resins business formerly developed, marketed, and manufactured by Solvay S.A. in Belgium.
The acquisition includes all manufacturing equipment (essentially a complete factory), all patents, tradenames, internet domain names and the global customer portfolio for the product lines. The product range consists of functionalized maleic anhydride-grafted polyolefin (MAgPO) homopolymers and copolymers, ionomers, and emulsions, which are used to modify and improve the properties of olefin-based polymers and composites (reinforced with glass or natural fibres), helping make these products capable of performing in more demanding applications. Additionally, they can be used as protective coatings on beverage cans, to join multi-material assemblies, as coupling agents for glass and natural-fibre reinforced composites, and to compatibilize olefin blends and alloys.
“We believe that Addcomp is in the best position to realize the full potential of Priex technology as a range of innovative solutions specifically designed for polyolefin manufacturers,” said Leopold Demiddeleer, director - Future Businesses at Solvay. ”The strategic fit for Priex within Solvay’s activities in the Plastics Sector had become limited because the company had divested its polyolefin production in 2005.”
Paul Stassen, Addcomp Marketing & Sales director, said, “This change of ownership is a win-win situation for everyone involved. All Priex customers will benefit from access to a far-greater supply and an ever-expanding portfolio of these useful products. In view of the high demand for this product line, Addcomp is investing in additional capacity that will debottleneck production and triple global capacity. Continued high-quality can be assured as well. In fact, Addcomp was the first additives supplier in the world to qualify for the demanding ISO/TS 16949:2002 (automotive) certification back in 2005. We have just been recertified for another 3 years and the manufacturing of Priex coupling agents is now also included in ISO/TS 16949:2002 certification. Addcomp is the world’s only coupling-agent producer to hold this certification.”
Addcomp Director of Operations, Jan Tijhuis adds, “We are using the exact same product recipes as Solvay did and identical raw materials. The manufacturing equipment is also identical and configured exactly the same way. The production line was simply moved from Brussels to Nijverdal. Because of our excellent relationship with Solvay, their engineers assisted us with start-up in order to make sure every detail was correct, right from the start. Our first run produced perfect product so we are very happy. It goes without saying that Priex production is now included in Addcomp’s quality-management system.”
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