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tel: +1-440-930-1000; fax: +1-440-930-3064;URL: www.polyone.com
NEWS AND VIEWS
ColorMatrix acquired by private equity firm, plansexpansionColorMatrix Corp, the Cleveland-based manu-facturer of liquid colorants and additive concen-trates for thermoplastic products, has beenacquired by US private equity firm AudaxGroup for an undisclosed sum. The existingmanagement, led by co-CEOs and co-foundersJohn Haugh and Michael Shaughnessy, havebeen retained and will remain significantinvestors in the company. ColorMatrix is a glob-al player serving customers in blow moulding,extrusion and performance moulding with a par-ticularly strong position in PET colouring.
As a result of the ownership change,ColorMatrix is also being reorganized, with itsfour global business units being joined into asingle operating group. The company says thiswill enable it to serve a growing and increasing-ly multinational customer base more efficiently.Audax co-chief executive Geoffrey Rehnertsays the new owner plans to accelerateColorMatrix’s growth by global expansion andcompleting selective add-on acquisitions.
Contact: ColorMatrix, 680 North Rocky RiverDrive, Berea, Ohio, USA; tel: +1-216-622-0100; URL: corporation.colormatrix.com
Bridgestone to build Mexicancarbon black plantTokyo-based Bridgestone Corp is planning tobuild a plant in Mexico to ensure reliable sup-plies of high-quality carbon black, which is inincreasingly high demand due to expansion ofthe company’s tyre plants worldwide.Approximately US$81 million (about ¥8.9 bil-lion) has been earmarked for investment in thenew plant, which is scheduled to begin produc-tion in June 2008. Annual capacity is expectedto be around 35 000 tons.
The new plant will be operated by MexicoCarbon Manufacturing SA DE CV, a wholly-owned member of the Bridgestone Group estab-lished in September 2005. The plant will belocated in Altamira and will employ about 110staff. This will be Bridgestone’s third carbonblack plant, joining facilities in Japan andThailand. Expanding in-house productioncapacity in raw materials for tyres and diversi-fied products is a strategic priority for the group.
Contact: Bridgestone Corp, 10-1, Kyobashi 1-chome, Chuo-ku, Tokyo 104-8340, Japan; tel:+81-3-3567-0111; fax: +81-3-3535-2553;URL: www.bridgestone.co.jp
Latest polymer additivesappointments at Chemtura,Elementis and othersChemtura Corp (www.chemtura.com) hasrecently made a number of executive appoint-ments in its plastics additives business. DianaPeninger has been appointed to the position ofglobal business director, PVC Additives, withaccountability for profit and loss and coordi-nation of functional support to drive improve-ment in operating income. Meanwhile, Marcvan Gerwen becomes the company’s globalbusiness director, Antioxidants & UVStabilizers, stationed in Frauenfeld,Switzerland, Chemtura’s European commer-cial centre. The business unit has plants inEurope, North and South America, Asia andthe Middle East and produces well-knownbrands such as Anox, Lowilite and Ultranox.Van Gerwen served as business director,Plastics Additives with Crompton Corp. ChrisBond becomes commercial director forPlastics Additives in the Americas, and SergioPalumbo takes on the same role in the EMEA(Europe, the Middle East and Africa) region.Palumbo, who will be based in Frauenfeld,was previously commercial manager, EMEA,for Plastics Additives and will be succeededin that role by Brian Johnson, who will bebased in Belgium.
Elementis (www.elementis.com) has appointedDavid W. Dutro as president and chief operatingofficer. Dutro will also retain his duties as manag-ing director of the pigments division.
Additives for Polymers August 2006
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