Mold-Masters: Purchase of ABBA Completed
Hot runner solutions supplier Mold-Masters announced that it has completed the purchase of ABBA Systems of Brantford, Ontario. ABBA Systems and Mold-Masters have been working together in a marketing alliance to build PET preform molds since 2009. The immense success and acceptance in the market of the alliance between ABBA Systems and Mold-Masters made this acquisition the next logical step to better lever the strengths of each within the PET market.
The company also announced today that it is renaming its PET business to better reflect its association with Mold-Masters. "iPET was a name we used to establish the marketing alliance with ABBA. Given that we wanted a stronger association of our PET business with Mold-Masters, we have decided that the brand name MasterPET (MPET) was a better fit," said Patrick Bennett, Executive Vice President of Mold-Masters. "MPET technology has demonstrated significant performance advantages with PET converters globally. This strategic acquisition truly demonstrates our commitment to the industry and our customers."
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