by SARAH SQUIRES
PlastiComp announced on Friday that it has been acquired by PolyOne Corporation (NYSE: POL), a global provider of specialized polymer materials and services.
PlastiComp was founded in Winona in 2003 by Stephen Bowen, and today includes two facilities in Winona encompassing 140,000 square feet. It produces thermoplastic composites, incorporating long-fiber reinforcement technology for the creation of lightweight, strong products. The company serves customers around the globe in applications such as medical devices, robots and drones, marine products, and high performance outdoor products. PlastiComp currently employs 50 in Winona, who will join PolyOne as part of its speciality engineer materials area.
“I’m thrilled to welcome Steve, the PlastiComp employees and their valued customers to the PolyOne team,” stated Robert M. Patterson, chairman, president and CEO of PolyOne Corporation. “We are very excited to accelerate commercial and operational investments to further expand this important composite technology as part of our advanced composites portfolio.”
PolyOne boasts 2017 revenues of $3.2 billion and includes more than 100 sales, manufacturing and regional offices. “As we looked to take this business and our customers to the next level, PolyOne was the natural choice,” said Bowen. “PolyOne’s comprehensive approach to design, service and innovation in thermoplastics and composites will enable us to forge even further ahead with our long-fiber technology technology, and I’m excited that our teams have joined together in collaboration for the future.”
Learn more about PlastiComp at plasticomp.com; more on PolyOne may be found by visiting polyone.com.