logo
  Join        Login             Stock Quote

Polyone (POL) To Buy Advanced Composite Materials Producer Glasforms

 December 20, 2012 07:50 AM
 


(By Balaseshan) PolyOne Corp. (NYSE: POL), a provider of specialized polymer materials, said it has agreed to purchase advanced composite materials producer Glasforms Inc. for $34 million.

PolyOne expects the acquisition of Glasforms, a manufacturer of glass and carbon fiber reinforced polymers and advanced composite products, to be accretive to earnings in 2013.

The purchase marks PolyOne's entry into advanced composite technology, an adjacency consistent with the company's proven strategy of providing specialty solutions that deliver high value to customers.

Glasforms will continue to operate from its Birmingham, Alabama campus, which includes six buildings and ample capacity for future expansion. The company employs about 300 associates, and its founder and president, Peter Pfaff, will continue in his leadership role along with other members of the Glasforms management team.

[Related -Top Insider Purchases: MUR, EVOL, MTSN, IMN, OPK, POL, SPB]

Glasforms will integrate as part of PolyOne's Specialty platform, under the direction of Craig Nikrant, senior vice president and president, Global Specialty Engineered Materials.

Glasforms has grown sales at a 36% compound annual growth rate since 2010 and in fiscal year 2012 achieved revenues in excess of $50 million. Glasforms manufactures advanced composite products for use in demanding applications across the electrical and telecom, energy, transportation, healthcare, and security and defense markets.

The end products include applications for endoscopy wands, wind turbine blade stiffening components, commercial truck floors and railcar doors for light-weighting, composite utility poles to replace wood and metal, earthquake-proof bridge decks, and specialized rods used in the production of oil and gas.

[Related -Fabulous Start To The Year]

POL ended Wednesday's regular session up 0.15% at $20.04. The stock has been trading between $11.07 and $21 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

A Decisively Negative Day
More Articles on: Basic Materials



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.