PolyOne polymer to formulated polymers, an Indian engineering plastics manufacturer, to strengthen Indian market operations.
The acquisition is in the final stages of discussion, and the deal will be completed in a few weeks ' time.
It is understood that formulated polymers company was founded in 1993, specializes in engineering plastics business, the main research and development and production of a series of thermoplastic compounds. In recent years, India has overtaken Germany as the world's fourth-largest car market after China, the US and Japan. Sales of passenger and commercial vehicles in India increased by 9.5% in 2017 to 400多万辆, according to the survey.
With the rapid development of the automotive industry in India, the Engineering Plastics market will continue to grow. Engineering Plastics with excellent comprehensive performance, rigid, creep small, high mechanical strength, good heat resistance, electrical insulation excellent, can be in the more stringent chemical, physical environment for long-term use, especially to replace the metal as a structural material used in engineering.
In the automotive field, engineering Plastics are mainly used in the production of gears, radiator fans, oil filter housing and junction boxes and other components. The PolyOne polymer's acquisitions show that India's growing plastic market is attracting the attention of global giants.