Solvay Advanced Polymers Finalizes Acquisition
of Mississippi Polymer Technologies
Monday February 13, 2:19 pm ET
Plastics company expands range of ultra-performance polymers with PARMAX(R)
ALPHARETTA, Ga., Feb. 13 /PRNewswire/ -- Solvay Advanced Polymers, L.L.C. announces today that it has finalized the acquisition of Mississippi Polymer Technologies (MPT). MPT is a US-based start-up company that commercialized PARMAX®, a distinctive family of specialty materials that expands Solvay Advanced Polymers portfolio of ultra-performance polymers. This follows the recent announcement of the Solvay Group's intent to purchase the Polymers Division of Gharda Chemicals in India.
PARMAX® is a family of transparent amorphous materials that exhibit a remarkable and unique combination of strength, stiffness and hardness. Chemical resistance for PARMAX® is comparable to semi-crystalline materials and is unsurpassed by any other transparent polymer. PARMAX® can be melt processed using standard molding or extrusion methods. Its distinctive performance attributes make it an attractive, lightweight alternative to metals in demanding applications such as aerospace components, medical tubing and devices, semiconductor components, and industrial applications including bushings, bearings, gears, and valves.
Solvay Advanced Polymers plans to integrate the PARMAX® product line with other ultra-performance polymers within the company's operating unit headquartered in Alpharetta, Ga., which include polyamide-imide (TORLON®), polyether ketones (PEEK), and transparent high-temperature sulfone polymers.
"The MPT acquisition and the agreement to acquire Gharda's Polymer Division support our broader strategy to become a global leader in ultra- performance polymers," said Roger Kearns, CEO of Solvay Advanced Polymers.
Kearns also noted that the addition of PARMAX®, the people, and production site in Mississippi gives the company a powerful new engine for growth.
About Solvay Advanced Polymers
Solvay Advanced Polymers produces more plastics with higher performance than any other company in the world. This gives design engineers worldwide more ways to solve top design challenges in automotive, medical, electronics, aerospace and other demanding industries. Learn more at www.solvayadvancedpolymers.com.
Solvay Advanced Polymers is member of the Solvay Group, an international chemical and pharmaceutical group headquartered in Brussels, Belgium. Including the recently acquired company Fournier Pharma, the Solvay Group, whose companies employ about 33,000 people in 50 countries, recorded sales for 2004 of EUR 8.5 billion generated by its three sectors: Chemicals, Plastics and Pharmaceuticals. Solvay is listed on the Euronext 100 index of top European companies. Details are available at www.solvay.com.
About Mississippi Polymer Technologies, Inc.
Mississippi Polymers Technologies, Inc. (MPT) is a high-performance polymer manufacturer located in Bay St. Louis, Miss. MPT is the owner of proprietary PARMAX® technology, representing an exciting jump shift in mechanical properties of engineering thermoplastics. For more information, visit www.mptpolymers.com.
Source: Solvay Advanced Polymers
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