Jan 17 2006
Solvay has announced that it has signed a binding Agreement for the acquisition of Mississippi Polymer Technologies (MPT). MPT is a US-based start-up company that commercialized PARMAX®, a new family of specialty materials with exciting and very unique properties. This follows Solvay's recent announcement of its intent to purchase the Polymers Division of Gharda Chemicals in India, and will further expand Solvay's portfolio of ultra-performance polymers. The acquisition of MPT is scheduled to be completed in the coming months.
PARMAX® is a family of transparent amorphous materials that exhibit a remarkable and unique combination of strength, stiffness and hardness. Chemical resistance for PARMAX® is comparable to semi-crystalline materials and is unsurpassed by any other transparent polymer. PARMAX® can be melt processed using standard molding or extrusion methods. Its distinctive performance attributes make it an attractive, lightweight alternative to metals in demanding applications such as aerospace components, medical tubing and devices, semiconductor components, and industrial applications including bushings, bearings, gears, and valves.
“Solvay has assembled among the largest and most distinctive range of specialty polymers" commented Vincenzo Morici, General Manager, Strategic Business Unit Specialty Polymers. "It is definitely our intent to offer the broadest portfolio of ultra-high performance polymers. The recent agreement for the acquisition of Gharda's Polymer Division, and now MPT, will allow Solvay to offer a diverse set of polymers including Polyamideimide (Torlon®), polyether ketones (PEEK), high performance sulfones, and PARMAX®" Morici added.
Solvay plans to integrate the PARMAX® product line with those products within the Solvay Advanced Polymers, L.L.C. operating unit headquartered in Alpharetta, Georgia. "We are very enthusiastic about the acquisition of the MPT operations and the dedicated people associated with this business" stated Roger Kearns, CEO of Solvay Advanced Polymers. "This dedication was recently demonstrated by their tremendous efforts to recover quickly and get the facility returned to normal after the devastating hurricanes that hit the Gulf Coast region" he added. Kearns also noted that "Solvay Advanced Polymers' strategy is to provide the broadest range of solutions to our customers' most difficult problems. The addition of PARMAX®, the people, and site in Mississippi gives us a powerful new engine for growth”.
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