Leading specialized polymer materials, solutions and services provider PolyOne Corporation has recently announced the acquisition of Fiber-Line, a global provider of composite materials and customized engineered fibers. The deal was reportedly valued at $120 million.
According to PolyOne Corp., the leading technologies of Fiber-Line complement the existing wire & cable applications and specialty composite solutions of PolyOne. PolyOne would seemingly use its proven integration strategy of ‘invest to grow’ for increasing innovation for Fiber-Line customers, through leveraging a global commercial presence and deeper formulation expertise that accelerates growth.
Chairman, President and Chief Executive of PolyOne Corporation, Robert M. Patterson, was quoted saying that Fiber-Line is a unique and innovative addition to the company’s portfolio of composite and fiber solutions with remarkable upside for growth. Fiber-Line provides an immediate leadership position to serve the build out of future 5G networks as well as fiber optic cable.
Mr. Patterson mentioned that this acquisition resembles a crucial investment for PolyOne’s Specialty Engineered Materials segment. The company expects it to add close to $100 million in 2019’s revenue as well as be immediately accretive to EPS.
Dale Outhous, Chief Executive Officer of Fiber-Line, said in a statement that joining the PolyOne team signifies another critical milestone for the valued customers of Fiber-Line and its employees. Through the future investments of PolyOne in the operations, commercial reach and technical capabilities of Fiber-Line, the company would be capable of serving its customers in a much better way.
Mr. Patterson added that PolyOne would capture both benefit from the growth of 5G networks as well as near term growth prospects through increased collaboration with customers. The company expects major technology synergies between composites and fiber to drive the future growth in the long term, using specialty coatings and colorants, which the company is well positioned to develop.