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April 1, 2016

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Teknor Apex expands European footprint with German compounder acquisition

Teknor Apex Co. (Pawtucket, RI) announced today that it has acquired Plastic-Technologie-Service (PTS), a German-based custom compounder of thermoplastic elastomers (TPEs) and engineering thermoplastics (ETPs). The deal became final on March 31. The terms of the transaction were not disclosed.

Jonathan Fain, Chairman and CEO of Teknor Apex.

PTS operates a state-of-the-art manufacturing plant at Steinsfeld, Germany, with more than 20,000 tons of installed capacity, as well as a technical support facility. A nearby marketing office in Tauberzell includes facilities for training, seminars and discussions with customers of possible solutions for automotive, electrical, consumer product and other applications. The company has more than 100 employees.

PTS has a diverse set of product portfolios including TPE block copolymers based on a number of polymer chemistries, TPVs, and polymer blends. ETPs include several types of polyamide as well as PBT, polycarbonate (PC) and PC/ABS blends.

“PTS is well known for innovation and is the European leader in developing ‘hard/soft’ solutions that combine elastomers with rigid polymers,” said Suresh Swaminathan, Senior Vice President in charge of the global TPE business of Teknor Apex, in a prepared statement. “They will bring to our partnership a range of unique technologies and service capabilities.”

Among the proprietary specialties of PTS is a hard/soft technology for over-molding TPEs onto polar ETP substrates, such as nylon and acetal, and producing a durable bond. Another specialty is radiation-crosslinked grades of ETPs and TPEs.

For the past year, PTS has manufactured TPE and ETP compounds for Teknor Apex under a tolling agreement. Now, the PTS compounding facility at Steinsfeld becomes the second manufacturing site in Europe for Teknor Apex, which already compounds TPEs at a facility in Genk, Belgium. Teknor Apex also produces compounds at locations in the United States, Singapore and China.

"The acquisition of PTS is a natural fit in the strategic vision of Teknor Apex to support the market with a global footprint and local presence,” said Jonathan Fain, Chairman and CEO of Teknor Apex. “It also brings together two companies that have shared the unique culture of being privately owned and intensively customer-centered.”

PTS was founded in 1986 by Uwe Stenglin, who will continue in his role as Managing Director. As a subsidiary of Teknor Apex, PTS will continue to supply products under its existing brands.

“PTS and Teknor Apex have taken similar pathways to success,” said Stenglin. “We look forward to our growth together and to merging our complementary technologies into a more comprehensive global portfolio of products.”

Teknor Apex and PTS have enjoyed an excellent 15-year relationship involving licensing agreements, noted Fain.

Teknor Apex is a diversified materials company with divisions devoted to vinyl, TPEs, nylon, color additives, chemicals and garden hose.

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