PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, has taken over Fiber-Line, a global leader in customized engineered fibers and composite materials for $120 million.
Fiber-Line, founded in 1987, serves the fiber optic cable, oil & gas, industrial and consumer industries. The company has five manufacturing locations in North America, Europe, and Asia. With its customer-centric culture and specialty innovation strategy, Fiber-Line provides material science and polymer formulation expertise to engineer performance characteristics such as strength, abrasion and chemical resistance, and specialty colorants.
Robert M. Patterson, chairman, president and CEO, PolyOne Corporation, said, “Fiber-Line is an innovative and unique addition to our portfolio of fiber and composite solutions with tremendous upside for growth. They provide an immediate leadership position in serving the build out of fiber optic cable and future 5G networks”. He, added, “This acquisition represents a significant investment for our Specialty Engineered Materials segment. We expect it to add nearly $100 million in revenue in 2019 and be immediately accretive to EPS.”
The leading technologies of Fiber-Line add to the existing specialty composite solutions and wire & cable applications of PolyOne, who will utilize its proven invest-to-grow integration strategy to increase innovation for Fiber-Line customers, by leveraging deeper formulation expertise and a global commercial presence that accelerates growth.
Dale Outhous, CEO, Fiber-Line, commented, “Joining the PolyOne team represents another important and exciting milestone for Fiber-Line employees and our valued customers. Through PolyOne’s future investments in Fiber-Line’s technical capabilities, operations and commercial reach, we will be able to serve our customers better than ever before.”
PolyOne plans to capture both near-term growth prospects and benefit from the expansion of 5G networks along with future growth with significant technology synergies between fiber and composites, utilizing specialty colorants and coatings.