MEGTEC Acquires Product Lines from QuadTech
DE PERE, WI—November 20, 2006—MEGTEC Systems Inc. announced it has signed an Asset Purchase Agreement that results in MEGTEC’s
acquisition of the QuadTech Web Guidance System and QuadTech Silicone Coater product lines from QuadTech Inc., a subsidiary of Quad/Graphics.
The acquisition is a strategic move by MEGTEC Systems to further expand its current web handling product line. For QuadTech, the sale is in alignment with previously announced strategic initiatives to position the company to better serve its core businesses.
“The QuadTech products are an excellent fit with our current offerings in the web handling category,” said Philip Strand, vice president of MEGTEC Systemsı U.S. Printing Products Group. “We’ll build on the success of both MEGTEC and QuadTech with industry-leading product design, manufacturing and service. Whatıs more, the transition of commercial and support activities will be seamless for our joint customers.”
“QuadTech decided to exit this business area and focus more on expanding our Press Control portfolio,” said Karl Fritchen, QuadTech president. “MEGTEC’s acquisition of these product lines provided the opportunity to support our customers who still had needs for these products. I am confident MEGTEC will do a fantastic job manufacturing and servicing this customer base.”
MEGTEC Systems, a unit of Sequa Corporation, is the largest supplier of splicers, rewinders, dryers, oxidizers and related equipment to the web offset printing industry. More information can be found at the company’s Web site, www.megtec.com.