In a move to become a provider of fully integrated, turnkey co-injection barrier solutions, plastics processing equipment maker Milacron LLC has purchased Kortec Inc., a Rowley, Mass.-based supplier of turnkey co-injection systems to the packaging industry.
The terms of the deal have not been announced. The transaction is expected to close before the end of February 2014.
“The addition of Kortec is a perfect accompaniment to Milacron’s acquisition of hot runner manufacturer Mold-Masters in 2013,” Tom Goeke, CEO of Cincinnati, Ohio-based Milacron, said in a statement. “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 five years, the statement noted, replacing cans, tin, glass and thermoforming in markets such as shelf stable thin wall packaging, beverage packaging, pet foods, single serve coffee and medical parts.
According to the Milacron statement, customers can 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,” the statement said.