US/JAPAN/THAILAND - Quadrant, a Swiss manufacturer of thermoplastic materials that is also a wholly owned subsidiary of Japan’s Mitsubishi Plastics Inc, has acquired US injection molder and compounder Piper Plastics Inc, which operates a plant in the US as well as in Thailand.
Details of the financial transaction were not disclosed. The share purchase deal is expected to close in the next weeks subject to governmental approval.
Piper Plastics, which is based in Libertyville, Ill, in the US, serves markets including medical, semiconductor, aerospace, and food packaging. Its main operations are located in Libertyville, Illinois and Chandler, Arizona. It started operations at its 2,000 square meter plant in Rayong, Thailand, in May 2012.
With the addition of Piper Plastics, both companies can capitalize on their synergies in the engineering polymer industry as Piper Plastics will leverage Quadrant’s continually expanding, world-wide network of industry partners and customer relationships while bringing new technologies, specialized skills and market expertise into the group.
In mid-2013, Quadrant was acquired by Mitsubishi Plastics Inc, which had owned a minority stake in Quadrant since 2009.