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Polyone Corp acquires Magenta Master Fibers
11 Dec '15
2 min read
PolyOne Corporation, a supplier of specialised polymer materials, services and solutions has acquired Magenta Master Fibers, an innovative developer of specialty solid colour concentrates for the global fibre industry.
“PolyOne purchased Magenta from BASF for $22 million, which represents a multiple of 6.8x EBITDA and is expected to add $16 million to revenues and be accretive to earnings in 2016,” a PolyOne press release said.
Magenta's solutions span a wide range of uses, including clothing and apparel, outdoor equipment, high-performance products and multiple materials used in the transportation industry.
“And consistent with the megatrend of improving health and wellness, additional textile growth opportunities include, applications within the hygiene, healthcare and medical markets,” the company added.
With operations in Milan and Shanghai, 65 per cent of Magenta revenues are outside of North America.
Magenta will operate within PolyOne's Global Colour, Additives and Inks segment, which last month unveiled its revolutionary new ColorMatrix Fibre Colorant solution.
"PolyOne's unique, customer-first approach to colour and additive solutions begins with an unbiased perspective as to the technology, said John Hulle, president, Global Colour, Additives and Inks at PolyOne.
“By offering both liquid and solid masterbatch solutions, we better ensure that the chosen technology is the best one for each customer's specific needs," he observed.
"With our acquisition of Magenta, we're very pleased to be building this same, deep breadth of specialty solid and liquid colorant solutions for fibre applications," Hulle noted.
PolyOne Corporation, with 2014 revenues of $3.8 billion, is a premier provider of specialised polymer materials, services and solutions. (AR)
“PolyOne purchased Magenta from BASF for $22 million, which represents a multiple of 6.8x EBITDA and is expected to add $16 million to revenues and be accretive to earnings in 2016,” a PolyOne press release said.
Magenta's solutions span a wide range of uses, including clothing and apparel, outdoor equipment, high-performance products and multiple materials used in the transportation industry.
“And consistent with the megatrend of improving health and wellness, additional textile growth opportunities include, applications within the hygiene, healthcare and medical markets,” the company added.
With operations in Milan and Shanghai, 65 per cent of Magenta revenues are outside of North America.
Magenta will operate within PolyOne's Global Colour, Additives and Inks segment, which last month unveiled its revolutionary new ColorMatrix Fibre Colorant solution.
"PolyOne's unique, customer-first approach to colour and additive solutions begins with an unbiased perspective as to the technology, said John Hulle, president, Global Colour, Additives and Inks at PolyOne.
“By offering both liquid and solid masterbatch solutions, we better ensure that the chosen technology is the best one for each customer's specific needs," he observed.
"With our acquisition of Magenta, we're very pleased to be building this same, deep breadth of specialty solid and liquid colorant solutions for fibre applications," Hulle noted.
PolyOne Corporation, with 2014 revenues of $3.8 billion, is a premier provider of specialised polymer materials, services and solutions. (AR)
Fibre2Fashion News Desk – India
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