Renowned polymers and advanced materials market giant, Polyplastics Co., Ltd has recently announced to have agreed to merge its associate firm Topas Advanced Polymers (TAP) Inc., with Polyplastics USA. As per reliable sources, the latest deal would come into effect from April 1 of this year and the combined business is likely to be based out of Polyplastics USA’s Farmington Hills offices.
For the record, it has been more than a decade since the time Polyplastics USA has held a significant stake in Topas Advanced Polymers GmbH. Apparently, the latest deal will add cyclic olefin copolymer (COC) resins of Topas to Polymplastics USA’s existing range of products which consists of polybutylene terephthalate (PBT), polyphenylene sulfide (PPS) engineering polymers, and POM (acetal). As per authentic sources, COC sales of TAP USA have more than doubled after the company was acquired by Polyplastics Co., Ltd in the year 2005.
Issuing a joint statement on the development, the President of Polyplastics USA Lindsey Deal and President of TAP USA Timothy Kneale were quoted stating that the deal would help leverage TAP’s robust position in cyclic olefin copolymer (COC) resins space. Additionally, the agreement would help expand Polyplastics reach in the overall polymers and advanced materials industry.
In order to preserve the existing COC consumer base in healthcare, packaging, and other business verticals, Polyplastics USA has reportedly retained the majority of TAP USA’s personnel.
Post the conclusion of the merger, TAP USA would cease to exist as a legal entity. However, the European arm of TAP would continue to produce COC resins in Germany and supervise the company’s sales division for Europe, Africa, and Middle East markets.
Reportedly, the latest deal is being termed by market analysts as a crucial breakthrough in Polyplastics’ efforts to fortify its foothold in the rapidly growing U.S. polymers and advanced materials industry.