Poly Hi Solidur acquired by Quadrant

01-Jul-05

Swiss material solutions provider Quadrant had announced plans to seek further sustainable and quality sources of growth in high-performance plastics and thermoplastic composites in the future. These plans have been initiated with the acquisition of Poly Hi Solidur. With this deal, expected to be concluded in August this year, a material solutions provider extends global leadership in the engineering plastics marketplace. The company is likely to be purchased at a price of approximately US$ 82 million in cash plus about US$ 3 million of capitalized leases. The leases will be probably provided with from existing liquid funds and an increase of about 90 million Swiss francs in bank borrowings. Quadrant AG, considered a global leader in high-performance polymer material solutions in the form of semi-finished and finished products has signed an agreement with Menasha Corporation to purchase its Poly Hi Solidur business situated in USA. This company, whose trademarks include TIVAR and QuickSilver, is regarded as one of the world's leading manufacturers of ultra-high molecular weight polyethylene (UHMW-PE) semi-finished products for machining and fabrication. Poly Hi Solidur that operates production facilities in USA, Germany, France, the UK, Japan and South Africa is considered to have posted total sales of about US$169 million, approximately two-thirds of which were generated in the US in 2004. Its procurement is assumed to be significant to the growth for Quadrant in the context of its strategic focus on high-performance plastics. The deal is also deemed to equip the company with considerable know-how in development, production and distribution. The company will be in a position to offer mutual customers the efficiency of one-stop-shop purchasing and logistics, broader application development support, and a greater range of material options from one supplier.