"Pioneer Balloon is a leader in many fields: specifically, we are North America's preeminent producer of celebration goods, and we are at the forefront of producing dipped goods made from natural rubber latex," said Ted A. Vlamis, president and CEO of Pioneer Balloon Worldwide. "With over a century of successful operating history and our continuing commitment to be the innovator and leader of the celebrations industry, we recognize the need to future-proof our natural rubber latex supply chain.
"We have tasked ASP to de-risk and de-carbonize this essential component of our business."
Tom Marsh, who serves as managing director and chief technical officer of Pioneer Balloon's global latex operations, also will serve as CTO of ASP.
Robert Meyer, who serves as CEO of ASP, will join the board of directors at Pioneer as senior strategic adviser, effective July 1.
"Pioneer Balloon, renowned for its premier brand Qualatex, is an American icon," Meyer said. "I am delighted that ASP has been given the opportunity to provide Pioneer with the tools to actively diversify its natural rubber latex procurement toward cost-competitive, carbon-neutral and sustainable sources.
"Additionally, we will develop a pathway for Pioneer to recycle its latex waste and be able to offer latex balloon recycling to all its customers. Furthermore, I look forward to working with Pioneer's leadership team as they initiate the next growth phase for PBW. "