Radici Group Performance Plastics (Gandino, Italy; www.radicigroup.com/plastics) signed an agreement for the purchase of the Engineering Polymer Solutions business of Invista (Wichita, Kansas; www.invista.com). With this acquisition, RadiciGroup – a producer of nylon, PBT, TPE and POM engineering plastics – will be able to further strengthen and expand its presence in both the American and European markets. The closing of the transaction is expected within 60 days.
With the acquisition of Engineering Polymer Solutions, RadiciGroup Performance Plastics will be able to significantly increase its production capacity in the United States and in Europe, where INVISTA currently has two production plants (in Chattanooga, Tennessee, and Born, The Netherlands, respectively). RadiciGroup expects to consolidate assets in Chattanooga with their existing manufacturing facilities in North America (Radici Plastics USA Inc., Wadsworth (OH) and Radici Plastics Mexico S. de R.L. de C.V., Mexico).