AET: Purchase of QPF assets

Applied Extrusion Technologies Inc.,USA, completed its acquisition of selected assets of QPF LLC, Streamwood, another maker of OPP film. The purchased assets include machinery, intellectual property and inventory. The purchase price was about US$23 million. AET plans to close the 40-million-lb/yr Streamwood plant permanently and then to supply QPF customers from AET’s more efficient facilities. Hood Companies, the former owner of QPF, announced in May its intention to close QPF and exit the OPP business because of industry overcapacity.

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