AT Plastics sells power cable insulation business
AT Plastics Inc. (Brampton, ON) has completed the sale of its PowerGuard medium-voltage power cable materials busin...
AT Plastics Inc. (Brampton, ON) has completed the sale of its PowerGuard medium-voltage power cable materials business to Equistar Chemicals LP (Houston, TX). The sale includes manufacturing assets in Peachtree City, GA and Aqua-Link low-voltage power cable materials business, and proprietary formulation technology for the two product lines.
The sale was part of a strategy by AT Plastics to focus on market segments where the company has a leadership position, said Gary Connaughty, president and CEO of AT Plastics. AT Plastics develops and manufactures specialty raw materials for a number of niche markets.
The acquisition expands Equistar’s current portfolio of medium- and low-voltage cable products for the power cable market. According to Equistar, a key element of the acquisition is the recently-constructed compounding facility in Georgia.