Cleveland-based polymer provider PolyOne Corp. has acquired Magenta Master Fibers, a developer of specialty solid color concentrates for the fiber industry, from BASF for $22 million. Magenta has operations in Milan, Italy, and Shanghai, and joins PolyOne’s Global Color, Additives and Inks segment. In 2016, PolyOne expects the acquisition to add $16 million to revenues and be accretive to earnings.
“By offering both liquid and solid masterbatch solutions, we better ensure that the chosen technology is the best one for each customer’s specific needs,” said John V. Van Hulle, president, Global Color, Additives and Inks, PolyOne. “With our acquisition of Magenta, we’re very pleased to be building this same, deep breadth of specialty solid and liquid colorant solutions for fiber applications.”