Japanese-owned Quadrant EPP to sell fluoropolymer business to Agru

Family-owned Agru Austria has agreed to purchase the fluoropolymer production assets from Quadrant EPP AG, which is owned by Mitsubishi Plastics. and Mitsubishi Chemical Holdings Group, for a non-disclosed amount. With this acquisition, Agru says it will further strengthen its global leading position in the fluoropolymer products business by the addition of the materials, previous marketed as Symalit, within its own branded portfolio.

The transaction is limited to the assets currently located at Quadrant’s Lenzburg, Switzerland site. The plans call for the equipment to be dismantled and reinstalled at the largest site of Agru in Bad Hall, Austria. Both companies are fully committed to the successful realisation of a seamless and trouble-free transition and on-going continuous service to all customers. The transfer of assets is scheduled to be completed by the end of Q1, 2016. The affected customers will be informed about specific details by AGRU. This transaction will have no consequence to the machined parts business of Quadrant EPP, for these components the whole fluoropolymer product range will still be available from Quadrant EPP.

According to Petrus van Damme (President Quadrant EPP EMEA & India), “The fluoropolymer sheet & linings activities of Quadrant EPP are primarily related to project based businesses, and have been quite stable over the recent years. This activity was previously part of another business unit of Quadrant AG and has had little synergy with the other core business lines within Quadrant EPP. Therefore, in the best interests of the long-term future of all involved stakeholders of this activity, we evaluated all options and decided it was best to divest this business. We are delighted to have found a market leader such as Agru, who offers clear synergies with their core business, as the new parent company. We are confident this will secure its’ long-term success. Quadrant EPP expects to have a close cooperation with Agru in future”.

Quadrant Engineering Plastic Products (Quadrant EPP) is a manufacturer of semi-finished products, ranging from UHMW polyethylene, nylon and acetal to ultra-high performance polymers that resist temperatures to over 425°C. The company’s rods, sheets, tubes and custom shapes are among others used to machine components for the semiconductor manufacturing, aerospace, electronics, chemical processing and various other industries. The company has locations in 20 countries and more than 2 000 employees.

Agru, headquartered in Austria, produces Industrial Piping Systems and Semi-Finished Products like sheets, bars and welding rods out of PE, PP, PVDF and ECTFE.