Hamburg, Germany – German distributor and compounder Albis Plastic GmbH has spun off its compounding unit, which is now operating independently under the name Mocom Compounds GmbH & Co. KG.
“With the entry into the commercial register, the last formal step of the spin-off of the compounding division has now been completed,” Albis announced 19 Oct.
Former Albis chief strategy officer Ian Mills will lead Mocom as CEO, post spin-off.
“As an independent brand, we will fully focus on our strength in developing and producing high quality, competitive material solutions in close cooperation with our customers and take it to a new level," Mills said.
Mocom will continue to produce and market Albis product brands, including Alfater XL thermoplastic vulcanisate elastomer TPV and other plastic compounds.
Albis announced the official separation in July this year, saying the new structure would reduce costs and make decision-making process shorter.
Albis will employ about 450, distributing almost 450 kilotonnes per annum (ktpa) of material annually.
Mocom will have more than 700 employees and annual compounding production capacity of 200ktpa, across eight eight plants in Europe, the US and China.
Albis and Mocom will have separate locations and offices, although both will be based in Hamburg.
Mocom will operate all R&D and manufacturing work, while sister company Albis will act as distribution partner for full portfolio.