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China From Housewares Import
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Husky To Purchase Moldflow Manufacturing Solutions Division by
Husky Injection Molding Systems Ltd. recently announced that it has signed an agreement to purchase substantially all of the assets of Moldflow Corporation's Solutions Division for $7 million. The transaction is expected to close on June 30, 2007.
Husky is one of the leading suppliers of hot runners and tooling for the injection molding industry. With the said acquisition, Husky will expand its product offerings by adding temperature controllers, process management and data communication software to its leading hot runner and machine portfolio.
Effective upon closing, the Company will offer customers Altanium temperature controllers, Celltrack and Shotscope software products, as well as MPX under license, Moldflow Corporation's automated process set-up and optimization tool. In addition, the Company will continue to offer the current line of LEC and TTC hot runner controllers during a transition period.
On May 10, Moldflow Corporation announced its intention to sell the Solutions Division. Commenting on the recent announcement, Roland Thomas, Moldflow Corporation's President and CEO, said, "I believe that Husky is a strategic owner with the global infrastructure, expertise and focus needed to take our Altanium and shop floor products to the next level."
"This transaction brings to Husky an experienced team, a wealth of technology expertise and a highly complementary set of innovative products," said Keith Carlton, Husky's Vice President of Hot Runners and PET Molds. "As a result, we will offer our customers greater value while continuing to grow this strategic area of our business."
"The acquisition of Moldflow's Solutions Division is consistent with our strategy of building a portfolio of leading products and services to better serve our customers," said John Galt, Husky's President and CEO. "By leveraging our industry leading service and sales network and our strong position in tooling, we will be able to deliver these innovative products to an expanded range of customers."
Husky Injection Molding Systems is a global supplier of injection molding equipment and services to the plastics industry. With one of the broadest product lines in the industry, customers use Husky equipment to manufacture a wide range of products in the packaging, technical and automotive industries. The company has more than 40 service and sales offices, supporting customers in over 100 countries. Husky's facilities are located in Canada, the United States, Luxembourg and China. The company's common shares are listed on the Toronto Stock Exchange
Husky said last Monday that the deal will allow the firm to expand its product offering by adding temperature controllers, process management and data communication software to its hot runner and machine portfolio. Husky is one of the largest suppliers of tooling and hot runners for the injection moulding industry. The deal with Moldflow "brings to Husky an experienced team, a wealth of technology expertise and a highly complementary set of innovative products," said Carlton.
The Bolton-based plastics specialist also has etched a niche in the automotive industry. As a fact, Husky BMW floor mats and other auto accessories are famed in the automotive world. They have established a reputation for quality and durability. This is why other renowned automakers are counting on the expertise of the plastics speciaist to produce cutting-edge auto accessories.
The Husky Injection Molding Systems is a global supplier of injection moulding equipment and services to the plastics industry. The company has more than 40 service and sales offices, supporting customers in over 100 countries worldwide. Husky's factories are in Canada, the United States, Luxembourg and China.
In 1951, Husky was founded by Robert Schad, a German immigrant who came to Canada. The company manufactures Injection moulding machines, Hotrunners, injection moulds, robots and auxiliary systems.
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