Cleveland, Ohio -Â PolyOne Corp. said it has agreed to buy GLS Corp. GLS is a North American provider of specialty thermoplastic elastomer compounds ("TPE") for consumer and medical applications. GLS has annual sales of approximately $130 million. Terms of the pending transaction were not disclosed. However,
GLS, a privately-held company owned by the Dehmlow family, is headquartered in McHenry, Illinois. It develops and markets highly customised soft TPEs. GLS products give toothbrush handles a softer touch, provide a better grip for electronic devices, create a stronger seal for food and beverage packaging, and enhance the flexibility of medical tubing systems. The company, which serves more than 1,200 customers worldwide, has achieved double-digit revenue growth in each of the last 10 years and is well positioned to capitalise on escalating demand for soft-touch products. With approximately 200 employees, GLS supports its customers with manufacturing facilities in Illinois and Suzhou, China. In 2006, GLS became the first specialty TPE compounder to begin production in China.
At the K show, GLS announced it had formed a partnership with Dow Chemical to compound Dow's range of Infuse products
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Press release from PolyOne