Milacron Buys Kortec
Milacron LLC, Cincinnatti, OH/USA, has announced the acquisition of Kortec, Rowley, MA/USA, a supplier of co-injection technology solutions to the packaging industry. This combination positions Milacron as a leading provider of fully integrated, turnkey co-injection barrier systems. The transaction, subject to customary closing conditions, is expected to close before the end of February 2014.
Kortec provides turnkey systems, including patented co-injection technologies, expert applications, and leading-edge R&D services. The company's co-injection systems produce multi-layer preforms that incorporate the latest barrier and scavenger material technologies to create the high-performing, high-barrier containers.
Future customers will have the flexibility to purchase a fully integrated Kortec system, or choose to add a retrofit co-injection melt distribution and control module to their existing injection molding equipment. Both of these options can transform operations from mono-layer manufacturing processes to complete co-injection molding lines.
Milacron CEO Tom Goeke stated “The addition of Kortec is a perfect accompaniment to Milacron’s acquisition of hot runner manufacturer Mold-Masters in 2013. Mold-Masters’ existing IRIS barrier technology and Milacron’s machinery platform, in partnership with Kortec, will create the widest co-injection solutions capability in the plastics industry."
Injection molded barrier packaging has seen significant growth in the last 5 years to replace cans, tin, glass and thermoforming in markets such as shelf stable thin wall packaging, beverage packaging, pet foods, single serve coffee and medical parts. The growth is driven by the cost, quality, shape and productivity advantages of plastic packaging.
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