PolyOne Corp. (www.polyone.com) announced its strategic acquisition of Fiber-Line (www.fiber-line.com), a leading manufacturer of customized composite materials and engineered fibers for around $120 million.
Founded in the year 1987, Fiber-Line has used its customer-centric values as well as specialty innovation to build a robust portfolio of offerings catering to oil & gas, industrial, fiber optic cable, and consumer industries. With five fully-fledged manufacturing establishments in North America, Europe and Asia, Fiber-Line offers material science and polymer sythesis know-how to inculcate standard performance attributes for fiber. Some of the aforementioned characteristics include abrasion, strength, chemical resistance, and specialty colorants.
“Fiber-Line is a unique as well as necessary addition to the existing portfolio i.e. fiber and composite solutions, which is foreseen to offer tremendous scope for growth,” said Robert M. Patterson, CEO, PolyOne Corporation. “This acquisition is one of the key strategic moves that represents a notable investment vis-à-vis our segment of specialty engineered materials segment. “We anticipate this move to add approximately $100 million in revenue in 2019 and grow via a gradual addition to the company’s revenue earnings”, added Mr. Patterson.
With an aim of solidifying their market sustenance, companies have been persistently developing interest for mergers and acquisitions, irrespective of size. This acquisition will not only help in amelioration of the current operations of PolyOne Corp., but will also facilitate the abilities of learning from Fiber-Line. Value creation remains one of the key benefits in case of mergers and acquisitions, wherein new technology standards are created enabling high-scale product diversification.
Fiber-Line’s leading technologies befits the existing specialty composite offerings and wire & cable applications of PolyOne. By utilizing the effective invest-to-grow integration strategy of Fiber-line, PolyOne looks forward to heightened innovation. Moreover, PolyOne is also likely to leverage strategic formulation know-how and high-scale presence of Fiber-line to accelerate its own growth trajectory.
“This acquisition, which resulted in Fiber-Line joining hands with PolyOne, is foreseen to represent exciting opportunities for creating best-quality products to serve our evolving customer needs”, added Dale Outhous, CEO, Fiber-Line. “Through the future investments by PolyOne in the technical abilities, geographical reach, and operational framework of Fiber-Line, our service for our customers would be much better than before.” Mr. Patterson also added, “We are extremely thrilled to welcome the entire team of Fiber-Line on board. Through rising number of collaborative efforts with customers, we’ll get hold of both short-term as well as long-term growth prospects, which will benefit us in terms of business expansion.”