Acquisitions, Dispositions and Plant Closures

3 Months Ended

Mar. 31, 2019

Acquisitions, Dispositions and Plant Closures [Abstract]

Acquisitions, Dispositions and Plant Closures [Text Block]

Acquisitions, Dispositions and Plant Closures

Acquisitions

• Omni Plastics

In February 2018, using cash on hand and borrowings under the Company's senior unsecured revolving credit facility, the Company acquired 100% of the ownership interests of Omni Plastics, L.L.C. and its subsidiaries ("Omni Plastics"). Omni Plastics specializes in custom compounding of various engineered thermoplastic materials. The acquisition further strengthens the Company's global asset base by adding compounding capacity in the Americas. The acquisition was accounted for as a business combination and the acquired operations are included in the Engineered Materials segment. The Company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. During the measurement period, there were no adjustments that materially impacted the Company's goodwill initially recorded.