Husky to acquire Moldflow Manufacturing Solutions Division
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Bolton, Ont.-based Husky Injection Molding Systems Ltd. has announced that it has signed an agreement to acquire al...
Bolton, Ont.-based Husky Injection Molding Systems Ltd. has announced that it has signed an agreement to acquire all of the assets of Moldflow Corporation‘s Manufacturing Solutions Division for $7 million. According to the company, the sale is expected to close on June 30, 2007.
Husky is a global supplier of hot runners and tooling for the injection molding sector, and the acquisition will add temperature controllers, process management and data communication software to its portfolio.
“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.
Upon closing, Husky will offer customers Altanium temperature controllers, Celltrack and Shotscope software products, and Moldflow’s automated process set-up and optimization tool. In addition, Husky said that it would continue to offer the current line of LEC and TTC hot runner controllers during a transition period.
Moldflow announced its intent to sell its Manufacturing Solutions Division on May 10 2007, announcing a revised corporate strategy that focused on its CAE Design Analysis Solutions business.
“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,” said Moldflow’s president and CEO Roland Thomas.
Husky noted that the acquisition would provide greater value for its customers, and indicated that it would continue to grow the area of its business.
“The acquisition of Moldflow’s Manufacturing Solutions Division is consistent with our strategy of building a portfolio of leading products and services to better serve our customers,” said Husky president and CEO John Galt. “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.”