PolyOne acquires Magenta Master Fibers from BASF in $22m deal

PolyOne acquires Magenta Master Fibers from BASF in $22m deal

9:25 AM, 10th December 2015
PolyOne acquires Magenta Master Fibers from BASF in $22m deal
Robert Patterson, president and CEO, PolyOne Corporation. (File photo)

CLEVELAND, US: PolyOne Corporation said that it has acquired the Magenta Master Fibers (Magenta) a developer of specialty solid colour concentrates for the fibre industry from BASF for $22 million.

The deal is expected to add $16 million to revenues and be accretive to earnings in 2016.

Magenta will operate within PolyOne’s global colour, additives and inks segment, which last month unveiled its revolutionary new colormetric fiber colorant solutions that provide late-stage colour injection in fibre applications utilizing liquid solutions.

“By offering both liquid and solid masterbatch solutions, we better ensure that the chosen technology is the best one for each customer’s specific needs. With Magenta, we will build this same, deep breadth of specialty solid and liquid colourant solutions for fibre applications,” said John Van Hulle, president, global colour, additives and inks, PolyOne Corporation.

“This is another excellent, strategic acquisition that will further accelerate our specialty strategy as we pursue our 2020 Platinum Vision,” said Robert Patterson, president and CEO, PolyOne Corporation. “Similar to our past colour business acquisitions of Colormetric and Accella, we will utilize our invest-to-grow integration approach to help our customers innovate and succeed.”

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