PolyOne Corp., a specialty polymer company, has acquired Fiber-Line, a global leader in customized engineered fibers and composite materials for $120 million, according to a press release. PolyOne was exhibiting at the WT | Wearable Technologies Conference 2018 USA in San Francisco.
Since its inception in 1987, Fiber-Line has utilized its customer-centric culture and specialty innovation to establish a leading portfolio of materials serving the fiber optic cable, oil & 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 fiber. These include strength, abrasion and chemical resistance, and specialty colorants, the press release read.
“Fiber-Line is an innovative and unique addition to our portfolio of fiber and composite solutions, with tremendous upside for growth,” Robert M. Patterson, PolyOne chairman, president and CEO, said in the release. “They provide an immediate leadership position in serving the buildout of fiber-optic cable and future 5G networks.”
“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,” Patterson added.
The release noted that Fiber-Line’s technologies will complement PolyOne’s existing specialty composite solutions and wire and cable applications. PolyOne will utilize 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.”