Boston-based Applied Extrusion Technologies, Inc., completes its buy July 2 of certain assets of QPF, LLC, the OPP films business of Hood Cos. The Streamwood, Ill., facility of QPF ceased operations on June 29.

"We intend to supply QPF's customers from our existing assets, with only minimal incremental fixed costs," says AET president and CEO Thomas E. Williams. "We will continue to focus on cost reduction, leveraging our position as the largest OPP films producer in North America."

Assets acquired include the machinery and equipment, intellectual property, intangibles and inventory of the QPF business. Purchase price was about $23 million, of which $15 million was paid in cash using proceeds from a recent AET bond offering.