
30 May 2006
New company to start SMA-polymer production in Geleen
Introducing Polyscope Polymers BV
Polyscope Polymers (www.polyscope.eu) has announced that it will start manufacturing SMA polymers for the automotive and paper industries. The company, which was founded in 2006 by automotive plastics industry veterans Michael Downs and Josef-Michael Eder together with strategic investors, has attracted major international funding from a consortium of investors led by LIOF and Limburg Ventures and is set to revitalise an existing polymer plant at the Chemelot site in Geleen, the Netherlands, to again produce SMA copolymers.
SMA co-polymers (styrene-maleic anhydride) are increasingly being used by leading car manufacturers including VW/Audi, Opel and Ford for automotive interior components such as instrument panels. This choice is driven by the copolymer’s high temperature stability, adimensional precision and adhesion characteristics, important to attach a soft, foamed skin. Applied as a component in paper-sizing the SMA product from Polyscope helps to obtain smooth paper finishes and gives better printability with less ink ‘bleeding’.
The management of Polyscope Polymers has indicated that it plans to start production later this year. According to statutory director Michael Downs: “Polyscope Polymers has the ambition to develop additional applications for SMA and to expand the production capacity over time.”
Leading investors
Limburg Development Company LIOF and Limburg Ventures acted as the lead investors for Polyscope Polymers. Both LIOF and Limburg Ventures offered extensive support during the business planning process. They were also involved in the formation of a consortium which includes private investors Adgild Hop and Uwe Wascher of Kapellen, Belgium. These investors have a long track records in the automotive and plastics industries and agreed to join LIOF and Limburg Ventures in providing venture capital in equity and subordinated loans.
Besides venture capital, the consortium brings important expertise and networks and will actively support the management; it will take two seats in the company’s supervisory board. The size of the investment in Polyscope was not disclosed.
The establishment of the company can be regarded as a boost for the Chemelot site, which aims to attract innovative companies to its ‘Materials valley’. The idea of Chemelot is that companies can use and exchange competences and services with each other and DSM. Michael Downs: “We value the support given by Chemelot and DSM to start our new company. We anticipate to benefit from the expertise available in the field of environment and safety, in purchasing and manufacturing and in customer support, development and innovation.”
Ger Wagemans, managing director of Chemelot, is very pleased with the establishment of Polyscope Polymers: “We are delighted to welcome Polyscope Polymers as they join DSM, Sabic, Sekisui, Celanese, EdeA, LVM, Carbolim, Basic Pharma, Nanospecials and other companies at our site. We believe that the company will benefit from its location at Chemelot, which has rapidly become a centre of excellence, competence and capabilities for the chemical industry.”
Fact sheet
Michael Charles Downs (43) was born in the UK, where he worked for the Ford Motor Company and Marley Automotive. For the last ten years he was European Business Director for a North American Chemical Company which was developing and marketing SMA for European industrial applications.
This is not Mr. Downs’s first time in the Limburg region of The Netherlands. At the beginning of the nineties, Michael Downs was one of the original team which established a joint venture between Davidson Rubber (US) and Marley Automotive (UK) to create Davidson Marley (Textron) located in Born, now International Automotive Components (IAC).
Josef-Michael Eder (47) is of Austrian origin and has lived in Germany for the past 26 years. He has 25 years of automotive and plastics experience. His achievements include the establishing of two engineering centres to manage system application development programmes, automotive safety & environmental testing and manufacturing. Working for the last 9 years together with Michael Downs, he has concentrated his efforts on growing the European and Chinese Markets as Technical Leader SMA Europe.
Limburg Ventures
Limburg Ventures is a venture capital fund which focuses on innovative businesses in the fields of advanced materials and the life sciences who wish to establish themselves in the provence of Limburg, The Netherlands, and by preference at the Geleen Campus of Chemelot. The fund was founded by DSM and LIOF. Limburg Ventures invests in young businesses that have generated a proven (product) concept and now are in need of capital for rapid growth. In its activities, the fund seeks to link up with the region’s strengths in the fields of materials and the life sciences and to open up networks giving access to universities and the market for the companies in which it participates.
Limburg Ventures BV
Casper Bruens / John Vossen
Tel. +31 (0)45 5782552 / +31 (0)43 3280286
E-mail: info@limburgventures.com
Internet: www.limburgventures.com
NV Industriebank LIOF
NV Industriebank LIOF is the regional development company of the Dutch province of Limburg. LIOF aims to improve the effectiveness of the companies on which it focuses and has identified four core tasks: Investment Promotion & Business Development, Participations, Development & Innovation and Business Parks. With regard to venture capital LIOF focuses on new and existing, small and medium-sized, industrial and support-service companies which are expected to demonstrate sustainable growth.
LIOF is eager to get into contact with new business initiatives, operates pro-actively and focuses on economic opportunities for the long term. As a development company LIOF has a bridging role between the Dutch government and industry in Limburg.
NV Industriebank LIOF
Frans Ridderbeekx
Tel. +31 (0)43 3280 280
E-mail: fridderbeekx@liof.nl
Internet: www.liof.com
Chemelot
Chemelot is the independent chemical and sciences park in the Euregio Maas Rhine. Site users find excellent manufacturing capabilities and industrial services, together with an open attitude towards innovation, high chem and performance materials development. DSM, Sabic, Sekisui, Celanese, EdeA, LVM, Carbolim, Basic Pharma, Nanospecials and many other companies are hosted on the Chemelot site.
Chemelot
Gerard van der Zanden
Tel. +31 (0)46 4764077
E-mail: gerard.zanden-van-der@dsm.com
Internet: www.chemelot.com
Adgild Hop
Adgild Hop has 35 years experience within the automotive and plastics industry having worked for car companies such as Honda Motors and Volvo, before joining GE Plastics in 1978 where he held several positions in Product Management as well as Business and Technical Management in Europe and North America (Detroit). He furthered his experience at Textron Automotive in Europe as Vice President and Managing Director in 1997, developing and supplying automotive components and complex modules. More recently Adgild Hop created his own company, Adgild Hop and Partners, a network for business and product innovation.
Uwe Wascher
Uwe Wascher’s consultancy company ‘Wascher and Partner’ invests in start-up companies and actively helps them to grow. Uwe Wascher had a longstanding career in General Electric (GE) both in Europe and the United States. In his last position he was Senior Managing Director of GE Plastics in Europe responsible for Europe, Africa, Middle East and India. In that position he also chaired GE’s Corporate Executive Council for Europe. Uwe Wascher was a Corporate Officer of GE Company for 16 years. Prior to joining GE Plastics, Uwe Wascher worked for Monsanto and Rohm and Haas.
Uwe Wascher has accepted the position as chairman of the board of Polyscope Polymers.
Reader enquiries
Polyscope
Prins de Lignestraat 28
6161 CZ Geleen
PO Box 1073
6160 BB GELEEN
Netherlands
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Michael Downs
Polyscope
Heidi Laban
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