Husky Injection Molding Systems has signed an agreement to sell Injectoplast, the former closure injection molding operation of KTW Group, to Alpla Holding GmbH.
The terms of the deal have not been disclosed.
Headquartered in Hard, Austria, Alpla Holding is part of the Austria-based Alpla Group of Companies, a rigid packaging maker.
Injectoplast was a division of Austria-based KTW, a closure mold maker that Husky acquired in early 2011. At the time of the KTW acquisition, Bolton, Ont.-based Husky announced that it would be divesting Injectoplast due to potential conflicts with its existing injection molding customers.
The deal is anticipated to close before the end of the first quarter of 2012, Husky said.