Thermoplastic materials manufacturer Mitsubishi Chemical Advanced Materials (Tielt / Belgium; www.mcam.com
) has acquired Advanced Polymer Technologies (APT, Stockton, California / USA; www.aptllc.net
), a producer of engineered plastic stock shapes for machined parts. Financial details of the transaction were not disclosed. The addition of APT means that both companies can capitalise on their synergies in the engineering polymer industry, especially focused on injection moulding and extrusion technologies, said Mitsubishi Chemical Advanced Materials.
Michael Koch, CEO of Mitsubishi Chemical Advanced Materials, commented: The acquisition enhances our ability to incubate and develop new solutions for the customer, pursuing our mission of metal to plastic conversion, which began more than 80 years ago. APTs president and CEO Steve Kessler added: Joining Mitsubishi Chemical Advanced Materials will allow us to expand our product portfolio and continue to deliver fast and efficient services on a global scale."
Mitsubishi Chemical Advanced Materials said it will maintain APTs unique market identity. The California-based company supplies the semiconductor, aerospace/defence, energy and medical industries in North America and Asia. It adds a manufacturing facility in Stockton to Mitsubishi Chemical Advanced Materials seven other plants in the US.
A wholly owned subsidiary of Mitsubishi Chemical (Tokyo / Japan; www.m-chemical.co.jp
), the Belgium-based company was formerly known as Quadrant see Plasteurope.com of 01.03.2019
. Mitsubishi took full ownership of Quadrants holding company in 2013.