PolyOne announces acquisition of Fiber-Line
PolyOne Corporation has announced the acquisition of Fiber-Line, a global leader in customised engineered fibres and composite materials for $120 million.
Founded in 1987, Fiber-Line has utilised its customer-centric culture and speciality innovation to establish a leading portfolio of materials serving the fibre optic cable, oil and gas, industrial and consumer industries. With five manufacturing locations in North America, Europe and Asia, Fiber-Line provides material science and polymer formulation expertise to engineer specified performance characteristics for fibre. These include strength, abrasion and chemical resistance, and speciality colourants.
“Fiber-Line is an innovative and unique addition to our portfolio of fibre and composite solutions with tremendous upside for growth,” said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. “They provide an immediate leadership position in serving the build-out of fibre optic cable and future 5G networks.”
Mr Patterson added, “This acquisition represents a significant investment for our Specialty Engineered Materials segment. We expect it to add nearly $100 million in revenue in 2019 and be immediately accretive to EPS.”
Fiber-Line’s leading technologies complement PolyOne’s existing specialty composite solutions, wire and cable applications. PolyOne will utilise its proven invest-to-grow integration strategy to increase innovation for Fiber-Line customers, by leveraging deeper formulation expertise and a global commercial presence that accelerates growth.
“Joining the PolyOne team represents another important and exciting milestone for Fiber-Line employees and our valued customers,” said
Dale Outhous, CEO, Fiber-Line. “Through PolyOne’s future investments in Fiber-Line’s technical capabilities, operations and commercial reach, we will be able to serve our customers better than ever before.”
Mr Patterson added, “We’re very excited to welcome Dale and his accomplished Fiber-Line management team to PolyOne. Through increased collaboration with customers, we’ll capture both near-term growth prospects as well as benefit from the expansion of 5G networks. Longer term, we expect future growth to be driven by significant technology synergies between fibre and composites, utilising specialty colorants and coatings, which PolyOne is well positioned to develop.”