July 1 2014, David R Brown
Nexeo Solutions divests its global composites business to Composites One
Composites One, North America's leading distributor of composites raw materials and value added services has purchased Nexeo Solutions' composites distribution business. All Nexeo Solutions dedicated composites distribution employees will be joining Composites One. The transaction closed on 1st July, 2014.
We are looking forward to combining the talent and experience of both organisations
Leon Garoufalis
President and COO of Composites One
The divestiture enables legacy composites employees to join an organisation targeting growth in the composites industry while allowing Nexeo Solutions to focus on differentiating its distribution capabilities and continuing to expand its presence in specialty chemicals.
The deal will mean that Composites One will be able to offer its extensive product portfolio to more customers in the U.S. and now, across all of Canada. Serving the entire composites marketplace including custom fabrication, marine, transportation, and aerospace markets, Composites One will now be in a better position to expand the services it provides to composites manufacturers.
“We are looking forward to combining the talent and experience of both organisations and creating an even stronger platform to service all customers who produce products using traditional and advanced composite products. We will continue to work diligently to position ourselves as the supplier of choice to help our customers become more successful,” commented Leon Garoufalis, President and COO of Composites One.
Nexeo Solutions will continue to provide back office support for the composites business through temporary service agreements which are expected to conclude on 30th September, 2014.
About Composites One
Composites One is the US leading distributors of composite materials serving customers from more than 30 locations in North America. Composites One offers composites fabricators and molders thousands of products from more than 450 of the industry's top suppliers. The company offers a variety of value added services that include closed mold technologies, technical applications reviews and regulatory compliance assistance. Composites One is headquartered in Arlington Heights, IL.
Source(s): Composites One Press Release
Further Information
Visit: http://www.compositesone.com