PolyOne Corp., Cleveland, Ohio, USA, has acquired substantially all of the assets of specialty healthcare engineered materials provider, New England Urethane Inc. (NEU). The purchase price of $12 million includes an earn-out payable in 2011. Based in North Haven, Conn., NEU provides high performance engineered thermoplastics, services, and solutions to the healthcare market.
"We're pleased to announce the acquisition of NEU, which expands PolyOne's healthcare product offerings. PolyOne will also add critical mass to a niche player in the healthcare field," said Craig Nikrant, VP and GM of Specialty Engineered Materials. "We look forward to leveraging our global reach and NEU's technology and industry knowledge to accelerate healthcare sales growth for PolyOne."
With 2008 revenues of $2.7 billion, PolyOne is a provider of specialized polymer materials, services, and solutions. It has operations around the world.
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