Husky to Acquire KTW Group
Husky Injection Molding Systems with headquarters in Bolton, Ontario, Canada, announced its intention to acquire KTW Group of Waidhofen, Austria, recognized as a global leader in closure mold making. The sale is expected to close in May 2011.
Effective upon closing, Husky will offer KTW-branded closure molds as part of its fully integrated turnkey systems. With the addition of KTW molds, Husky will become the closure industry’s only provider of complete injection molding systems, including mold, machine, hot runner, temperature controller, as well as a range of consulting and after-sales services.
The leadership team of KTW, including Managing Directors Anja and Claus Ziegler, will continue to be closely involved in leading the business after the completion of the transaction. In addition, KTW’s operations in Austria, the Czech Republic and Germany, will become Husky’s closure mold development and manufacturing centers of excellence.
In a related development, Husky plans to initiate a strategic review process for KTW’s custom injection molding division, Injectoplast. Although a growing business with many strong customer relationships, this is necessary to ensure the future success of Injectoplast and avoid any potential conflict of interest with Husky’s customers. This process will begin following the close of this acquisition.
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