CLEVELAND-PolyOne Corporation announces the acquisition of Magenta Master Fibers, a developer of specialty solid color concentrates for the global fiber industry.
PolyOne purchased Magenta from BASF for $22 million. The acquisition is expected to add $16 million to revenues and be accretive to earnings in 2016.
Magenta will operate within PolyOne’s global color, additives, and inks segment.
“PolyOne’s unique, customer-first approach to color and additive solutions begins with an unbiased perspective as to the technology. By offering both liquid and solid master-batch solutions, we better ensure that the chosen technology is the best one for each customer’s specific needs,” explains John V. Van Hulle, president of global color, additives, and inks, PolyOne Corporation. “With our acquisition of Magenta, we’re very pleased to be building this same, deep breadth of specialty solid and liquid colorant solutions for fiber applications.”
“This is another excellent, strategic acquisition that will further accelerate our specialty strategy as we pursue our 2020 Platinum Vision,” says Robert M. Patterson, president and chief executive officer, PolyOne Corporation. “Similar to our past color business acquisitions of ColorMatrix and Accella, we will utilize our invest-to-grow integration approach to help our customers innovate and succeed.”
For more information on PolyOne, visit http://www.polyone.com/