Solvay and Composites One LLC say that they have entered an ‘exclusive negotiation period’ for the acquisition of Solvay’s Process Materials (PM) business by Composites One.
The business covers vacuum bagging materials including bagging films, breather fabrics, release films and fabrics, peel plies, sealant tapes, valves and hoses, tailored consumable kits, and hard and soft tooling.
‘The Process Materials employees and customers will greatly benefit from this business being part of Composites One’s established and recognized distribution infrastructure,’ said Carmelo Lo Faro, president of Solvay Composite Materials. ‘Composites One’s intent is to grow and invest in the business, fostering innovation, reliability and customer service and building on the excellent work our teammates have done so far.’
The transaction is expected to be completed early in 2021.
This story uses material from Solvay, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.