For its sixth acquisition in just three years, Citadel Plastics Holdings Inc. chose QTR Inc., which markets custom compounds based on recycled polycarbonate and other engineering thermoplastics. QTR's brand lives on even as the company is being integrated into The Matrixx Group, another Citadel holding. QTR had annual sales of approximately $15 million, more than half out of the automotive market, and ran its compounds off of three twin-screw and to single-screw extrusion lines.
QTR (Evansville, IN) , formed in 1993, was awarded the Indiana Governor's Award for Excellence In Recycling in 1999 as well as the Indiana Chamber of Commerce Small Business of the Year for 2007. The acquisition of QTR officially was made thorough Matrixx, which also is based in Evansville. The assets of QTR and the engineered resins product line of The Matrixx Group will be combined into a new company, Matrixx-QTR. Running that company will be Rod Jackson, QTR's president, and Mary Perigo, its CFO. The Matrixx Group has seven compounding sites: five within the United States and two in Italy.
Mike Fitzpatrick, chairman and CEO of Citadel, stated, "QTR employees will be staying with this acquisition, and we are excited to have them as new members of the Citadel team. We will continue to use the QTR brand name and product nomenclature to take advantage of their excellent ...