Canada’s ATS Automation Tooling Systems has signed an agreement to acquire all shares of IWK Verpackungstecknik as well as Oystar IWK USA, a pharmaceutical and personal care tube filling and cartoning machinery group for 103 million euros.
According to Cambridge, Ont.-based ATS, the acquisition of German firm IWK is in line with its strategy of scaling its position in the global automation market, besides improving growth opportunities.
ATS also said that IWK is expected to add core capability in primary packaging (tube fillers) and secondary packaging (cartoners).
"This acquisition significantly enhances our capability, and deepens our involvement with two attractive customer segments, pharmaceuticals and consumer products," ATS CEO Anthony Caputo said.
ATS hopes to complete the acquisition in the third quarter of fiscal 2014.