READING, PA--(Marketwired - May 29, 2013) - Mitsubishi Plastics, Inc. (MPI) and the Quadrant Group of Companies (Quadrant) are proud to announce today that Quadrant, the global engineering plastics leader, has become a fully-owned subsidiary of the MPI Group of Companies.

The partnership is expected to fuel significant growth, allowing Quadrant to continue investing in its core businesses, expanding and enhancing what is already the most innovative and broadly diversified material portfolio in the plastics industry. MPI is committing its vast resources and inclusion in already established joint ventures to support Quadrant's future growth and success to an expanding global audience.

Mr. Steven Yurich has been appointed President and CEO of the Quadrant Group of Companies.

"Quadrant has always been a dynamic and influential company that produces world-class materials," said Mr. Yurich. "Quadrant complements MPI's product lines, and parallels its long term commitment to deliver optimized solutions to the plastics industry. One of the most exciting aspects of the acquisition is the joining of two companies with a shared passion to improve people's lives around the world through a wide-range of plastics innovations. All the way around, Quadrant is a perfect fit with MPI's mission and vision."

"We view this partnership with MPI as an opportunity to better serve our international customer base by providing an even broader mix of plastic technologies and application solutions. The resulting synergy will ultimately benefit both MPI and Quadrant customers as we combine resources and technologies to bring our advancements to market faster and with greater frequency," said Glen Steady, Global CEO of Quadrant EPP.

Through branch offices around the world and a continually growing team of over 2,000 members strong, Quadrant will continue doing business under its current name and logo, reinforcing the fact that there is Simply No Substitute for Quadrant -- the brand known for its Quality, Innovation, and Distinction.

About Quadrant Engineering Plastic Products:
For over 70 years, Quadrant Engineering Plastic Products (EPP) has been proving there is simply no substitute for quality, innovation and distinction. Quadrant EPP is the global leader of high-performance engineering plastics that are used for machined parts in food processing and packaging, semiconductor manufacturing, aerospace, electronics, chemical processing, life sciences, power generation and diverse industrial equipment. Its superior products range from UHMW polyethylene, nylon and acetal to ultra-high performance polymers that resist temperatures to over 800°F (425°C).