Citadel Plastics Holdings, Inc., the parent company of Automotive NewsWire sponsor Bulk Molding Compounds Inc., has acquired the assets of QTR, Inc., an Evansville, Ind.-based manufacturer of custom compounds based on recycled polycarbonate and other engineering resins such as ABS, PPO, PBT, Nylon, PEI and others.  Terms of the sale were not disclosed.

Citadel completed the acquisition through its Matrixx Group business unit, also of Evansville, and plans to eventually combine the assets of QTR with the engineered resin products of The Matrixx Group into one new company that will operate as Matrixx-QTR.  The current president of QTR, Rod Jackson, and Mary Perigo, the current CFO, will join the new company in the same roles. 

Commenting on the acquisition, Mr. Jackson said, "This is a very beneficial and strategic alignment for QTR and The Matrixx Group and will enable Matrixx-QTR to offer a broader portfolio of products to our customers.  We are looking forward to working with the rest of the Citadel team.  We will continue to use the QTR brand name and product nomenclature to take advantage of their excellent positioning with customers."

QTR is a major supplier of compounded plastics to the automotive industry and holds numerous approvals for parts with the Detroit Three.  See their web site at www.customcompounding.com for detailed information. 

The acquisition of QTR represents Citadel's sixth plastics-related acquisition since 2007.  Most recently it acquired the assets of Stoney Creek, Ont.-based Fiberfil Engineered Plastics. 

QTR's annual sales total about $15 million.  It operates three twin-screw and two single-screw extrusion lines in a new, recently completed manufacturing plant in Evansville with ISO 9001 registration and extensive QA Testing and Color Matching laboratories. 

Bulk Molding Compounds is a sponsor of Automotive NewsWire and helps keep this news coming to you free each business day.  Learn more about BMCI and their extensive line of plastic compounds by clicking on their banner ad at the top of this page.  You'll be glad you did!