Polymos Inc. acquires Plastiques Cellulaires Polyform Inc.
Terrasse-Vaudreuil, February 7th, 2022 – Polymos Inc. (“Polymos”), a North American leader in expanded plastics solutions, is proud to announce the acquisition of Cellular Plastics Polyform Inc. (“Polyform”). This acquisition joins the strengths of the two pioneers of expanded plastics industry in Quebec and creates a dominant player in North America with seven plants in Canada and more than 400 employees. The participation of Investissement Quebec, who becomes a minority shareholder in Polymos, will allow the new entity to continue its growth and increase its presence in Quebec and in North America.
“On behalf of the Bourbonnais family and our employees, we are happy and grateful to welcome the Polyform team and the Béliveau family in the Polymos family. We have great respect for them and for all they have accomplished over the years for their customers and the industry.
The two companies have a lot in common, including human values and a sincere commitment to customers. There will be a natural continuity in our efforts to create value through the quest for innovation, through a mentality oriented towards operational excellence and through active leadership in the promotion of sustainable development.
I would like to thank all the Polymossiens and Polymossiennes, their commitment to our mission “Grandir Ensemble” propels us forward in this new chapter of our history. They have been the heart of our success since 1969 and they will continue to be so” - Charles Bourbonnais, Chairman and Chief Executive Officer.
“We are proud of the heritage of our company and to continue this great adventure with the Polymos Inc. team. The synergy of the two companies will allow us to strengthen our position in the market and better serve our customers for years to come. We believe that joining forces will offer a bright future for all employees and for business continuity”.
- Éric and Danielle Béliveau of Polyform Cellular Plastics Inc.
"By taking part in this acquisition and becoming a minority shareholder, we are proud to contribute to the creation of a key player in the plastics sector. This company is destined to stand out in the North American market through its unique eco-responsible practices. Throughout our regions, our teams of financial experts are pleased to work closely with entrepreneurs and business leaders to help them drive growth.”
Guy LeBlanc, President and CEO of Investissement Québec
Financial terms of the transaction were not disclosed.
About Polymos: Founded in 1969 in Terrasse-Vaudreuil, in the Montreal West Island, Polymos stands out as a leader in the North American expanded plastics industry. The solutions offered by Polymos originate from three great families of expanded resins: EPS (expanded polystyrene), EPP (expanded polypropylene) and EPE (expanded polyethylene). These materials offer a wide range of distinct characteristics. Since its beginnings, Polymos has based its growth on a meticulous customer service, galvanized by the development of new products and the continuous technological advancement.
About Polyform: Polyform has been a manufacturer in the expanded cellular plastics transformation since 1968. Throughout these years, Polyform`s adaptation to change in every sector and their determination to constantly push their boundaries have helped them become one of the leaders in the industry. Polyform has three divisions: industrial, insulation, and environment.
Contact
Polymos Inc.
info@polymos.com