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Radicigroup performance plastics has signed an agreement for the acquisition of the engineering polymer solutions business of the american company, Invista.
On Monday, 12 September 2016, RadiciGroup Performance Plastics signed an agreement for the purchase of the Engineering Polymer Solutions business of the American company Invista. With this acquisition, RadiciGroup says it will be able to further strengthen and expand its presence in both the American and European markets. The closing of the transaction is expected within 60 days.
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 says it 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 explains that it will be able to significantly increase its production capacity in the United States and in Europe, where Invista currently has two production plants (in Chattanooga, Tennessee, US, and Born, The Netherlands, respectively). RadiciGroup expects to consolidate assets in Chattanooga with their existing manufacturing facilities in North America (Radici Plastics US, Wadsworth (OH) 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. OEM approvals will be valid and usable worldwide in industries such as automotive, electrical/electronics, industrial and consumer goods. A further value added will be gained from the respective competencies in sales and brand positioning of the brands TORZEN and RADILON. RadiciGroup was assisted by the law firms GRANDE STEVENS and RÖDL & PARTNER.
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