Schoeller Polymer Industries GmbH’s subsidiary acquires PolymersNet GmbH

Schoeller Polymer Industries GmbH, a leading designer and manufacturer of equipment and services for the plastics industry announced that it has acquired through its wholly owned subsidiary, ProTec Polymer Processing GmbH, the assets of PolymersNet GmbH for an undisclosed amount. PolymersNet is the only independent company in Europe manufacturing state-of-the-art machines for high volume production of long-fiber reinforced thermoplastic (LFT) pellets, which are used for the injection molding of high strength, low weight plastic parts. Acquisition of reinforced plastic pellet machine manufacturer is expected to drive growth and profitability with expanded equipment platform for plastics industry and access to new markets The advantages of LFT technology are becoming widely recognized, particularly in the automotive parts industry, and significant new applications are expected to develop in the packaging (pallets and returnable boxes), appliances, sport equipment and facilities, medical equipment and aerospace components. “Over the next eighteen months we expect sales of LFT Pultrusion machines to represent the leading segment of our plastics equipment business. Integrating PolymersNet’s operations and know-how with our experience designing and manufacturing material handling equipment, will enable ProTec to provide customers with customized solutions on a timely basis” The acquisition of PolymersNet includes all assets - intellectual property, a complete LFT manufacturing line for onsite demonstrations and production of customer samples, and other related equipment. Today the worldwide demand for LFT pellets, which are imbedded in a unique process with glass or carbon fibers, exceeds the supply of pellets. ProTec is currently investing in a new, state of the art LFT production and technical center at their Bensheim (near Frankfurt), Germany facility. The company expects to be fully operational and conducting customer trials in late August. Previously LFT machines were distributed under ProTec’s Pultrusion brand name “The acquisition of PolymersNet will enable us to strategically position ProTec into one of the plastics industry’s fastest growing equipment segments,” stated Mark W. Blodgett, Managing Partner & CEO of Schoeller Polymer Industries. “Over the next eighteen months we expect sales of LFT Pultrusion machines to represent the leading segment of our plastics equipment business. Integrating PolymersNet’s operations and know-how with our experience designing and manufacturing material handling equipment, will enable ProTec to provide customers with customized solutions on a timely basis,” he added