BIP/ Chem Polymer Expand International Presence

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Ft. Myers, Florida – The BIP Group, parent of Chem Polymer in Ft. Myers, Florida, has boosted its stake in engineering thermoplastic compounding by purchasing Plastex International, a privately owned compounder based in the UK.

Dr. Keith Sansom, BIP Group Chairman and CEO personally welcomed Plastex into the BIP fold. "The acquisition of Plastex is the most exciting and significant event since we took control of the Group in 1995. It is also the realization of a strategy we defined many months ago, to establish BIP as a more potent force in specialty plastics."

Plastex focuses on engineering thermoplastics with a product range that includes nylon, polycarbonate, ABS, PBT and acetal compounds. Their primary markets are the automotive and electrical segments, with a core strength in product development.

"Along with Chem Polymer, we have particular strengths in formulation and production of high specification thermoplastics, particularly nylon compounds," Dr. Sansom added. "This, together with strong customer focus, has allowed us to grow our businesses on both sides of the Atlantic. The Plastex acquisition is simply the next logical step in our strategy."

Brian Bennett, the former owner of Plastex, will remain as Managing Director and is equally delighted with the transaction. "Our established business in the automotive and large volume industries in particular, coupled with state of the art production capabilities add tremendous strength to the BIP Group. The merger of these two great names in the engineering plastics sector along with Chem Polymer in the USA significantly enhances the strengths and abilities of all companies.

"Our thermoplastics activities already span the globe with annual sales of 45 million pounds of compounds across all major market segments" states John Lee, Chem Polymer President. "The Plastex acquisition is good news for our customers, shareholders and employees as we further demonstrate our leadership in plastics technologies with a high service content."

BIP, an Oldbury, U.K.-based management buy-in supported by Advent International in Boston, is now closer to the days when it led the world in plastics technology. In 1922, the UK group invented and later patented the world's first white and colorable plastics. From that embryonic beginning, BIP's thermoset technology spread around the world. While the BIP Group remains a leader in thermoset plastics, the acquisition of Plastex emphasizes the Group's commitment to enhance their global thermoplastic business.