PolyOne announced the acquisition of Fiber-Line, who is a one of a leaders in customized composite material and engineered fibers. The acquisition costed around $120 million.
As, per Robert M. Patterson, CEO of PolyOne this acquisition is a path to upside growth owing to Fiber-Line being the innovative and new addition to their portfolio of composite solutions and fiber. Also, owing to the acquisition the firm will serve the built pout optic fiber cable and future 5G network. The CEO also added the expectation that is addition of $100 million in the revenue from 2019 owing to their investment Engineered Materials segment as this acquisition.
Fiber-Line existing technology with help the PolyOne’s existing specialty composite solutions and wire & cable application. The firm focuses to do come up with more innovation for their customers by focusing more on global commercial presence and increasing expertise to accelerate growth of the firm.
Also, PolyOne plans to invest more in Fiber-Line’s operations, technical capabilities and global presence to serve them retain their existing customers and attract new customers.
About PolyOne: PolyOne Corporation is an American global provider of specialized polymer materials, services, and solutions. The company has 60 manufacturing sites and 9 distribution facilities in many geographic regions which include North America, Europe, South America and Asia. The company earns major part of the revenue from the US.
— Vasundhra Singh,
Assistant Research Executive,