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2006-10-27 News Release

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Plastics operations provides success for 3Q

The majority of the positive turnover for Quadrant in the third quarter was the strong performance from the High Performance Plastics operations.

Quadrant's sales of 611.2 million Swiss francs after nine
months were 48% higher than in the previous year (412.5 million Swiss francs). Organic growth accounted for 5%, the same as in the comparative period of the previous year, which was already strong, and also equal to the proportion in the first half of the current year. The remaining growth was attributable mainly to last year's acquisitions of Poly Hi Solidur and JGC, where integration is still proceeding as planned.

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The positive trend continued to be driven in the third quarter mainly by the High Performance Plastics operations, which account for the majority of turnover (QEPP/QCMS, 80% of consolidated sales), with sustained strong demand for capital goods in Europe and the Far East. By contrast, the significantly smaller Plastic Composites / Cable Protection Systems Division (QPC/QCPS, 20% of consolidated sales) continued to be held back by the subdued trend on the automobile market, but nevertheless recorded higher sales due to the strong performance of the cable protection systems business. A comparison with the previous year in terms of profitability is only of limited value due to the change in the product mix, since lower margins are in the nature of the business at Poly Hi Solidur, acquired in August 2005. The consolidated Ebitda margin of 12.7% was slightly lower than last year's figure (13.1%), but is still within the range of our expectations for the year as a whole. The prospects that Quadrant will again set new records in 2006 therefore remain good.

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Read a recent press release about - The positive profitable growth in the first half of the year for Quadrant was due mainly to the High Performance Plastics operations which generated the majority of sales revenues.

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