Compounder PolyOne Corporation has acquired IQAP Masterbatch Group S.L., a privately owned provider of specialty colorants and additives based in Spain with customers throughout Europe.
|Spanish masterbatch supplier IQAP has been acquired by PolyOne.|
Founded in 1979 by Xavier Rovira, IQAP has built a technical and broad solutions portfolio that serves high-growth end markets consistent with PolyOne's focus, including transportation, packaging, consumer, wire & cable, and textiles. With two production facilities and a technology lab located in Spain, plus additional manufacturing capability in the Czech Republic, PolyOne will implement its proven invest-to-grow approach to integration and customer service.
"IQAP is a fantastic addition to our longstanding and growing expertise in color and additives innovation," said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. "The end markets that IQAP serves are perfectly aligned with areas PolyOne knows very well, and together we will advance the possibilities for our European customers working to meet demanding new standards for design, functionality and performance."
Rovira added, "I'm thrilled for IQAP customers and employees whose future can continue to grow and prosper as part of the global PolyOne family. We evaluated many potential buyers for IQAP, and PolyOne was the clear choice that best aligns with our vision and ideals for world-class innovation and customer service."
IQAP Masterbatch Group also recently opened new facilities at its Ibi-Alicante plant in Spain, with a view to consolidating the company’s commitment to achieve R+D+i leadership within the sector. This is an essential approach according to the company bearing in mind how dynamic the sector is, as new polymers, pigments, additives and features constantly emerge, generating fresh requirements leading to the improvement of final products.
The new laboratory and pilot plant facilities cover an area in excess of 1.000 m2, where new colors and features are developed to meet the specific requirements coming from different projects and customers. Moreover, plastic production processes can be reproduced according to the customer’s own processes. The Ibi plant itself covers an area of 8,000 m2 and has a production capacity over 2,500 tonnes/year.