Polyplastics Co., Ltd. (Tokyo), a global supplier of engineering thermoplastics, has announced that its affiliate Topas Advanced Polymers Inc. (Florence, KY) will be merged into Polyplastics USA Inc. (Farmington Hills, MI), effective April 1. The merger will add Topas cyclic olefin copolymer (COC) resins to Polyplastics USA’s existing portfolio of POM (acetal), polybutylene terephthalate (PBT) and polyphenylene sulfide (PPS) engineering polymers. The combined business will be headquartered at Polyplastics USA’s offices in Farmington Hills.
Polyplastics has held an ownership stake in Topas Advanced Polymers GmbH (TAP GmbH; Frankfurt, Germany) for more than a decade, notes the announcement released today. It describes the merger as a key milestone in Polyplastics’ efforts to build a strong market presence in the Americas. “We plan to leverage and further enhance TAP GmbH’s global leadership position in COC as Polyplastics moves forward to expand its market reach in the Americas,” said Lindsey Deal, President of Polyplastics USA, and Timothy Kneale, President of TAP USA, in a joint statement.
Polyplastics USA has retained the majority of TAP USA’s personnel to ensure continuity for the growing number of COC customers in the packaging, healthcare and other industries where polyolefin performance enhancement is needed. American Topas COC sales have more than doubled since parent Polyplastics acquired the company in 2005.
Upon completion of the merger, TAP USA will no longer exist as a legal entity. The merger will have no effect on TAP GmbH’s European arm, TAP GmbH, which will continue to manufacture COC in Oberhausen, Germany, and handle sales for Europe, Middle East, and Africa (EMEA).