PolyOne Buys Fiber-Line For $120 Mln

(RTTNews) - PolyOne Corp. (POL), Wednesday said it acquired Fiber-Line, a company of engineered fibers and composite materials, for $120 million.

Founded in 1987, Fiber-Line has a portfolio of materials serving the fiber optic cable, oil & gas, industrial and consumer industries. With five manufacturing locations in North America, Europe and Asia, Fiber-Line provides material science and polymer formulation expertise to engineer specified performance characteristics for fiber.

"Fiber-Line is an innovative and unique addition to our portfolio of fiber and composite solutions with tremendous upside for growth," said Robert Patterson, chairman, president and CEO, PolyOne Corporation.

Patterson 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."