Toronto injection molder Innotech bought by Sweden’s KB Components
Canadian Plastics
Automotive Canadian Plastics Plastics ProcessesInnotech focuses on functional and complex parts for industrial and automotive applications.
Toronto-based automotive and industrial parts molder Innotech Precision Inc. has been bought by Sweden’s KB Components AB for an undisclosed amount.
Innotech employs 60 and uses electric injection molding machines with automation, and performs horizontal and vertical injection molding of function and complex parts. Innotech was founded in 1972 as a special division for the manufacture of molding tools within Noma Industries. Since then, the company has evolved under the leadership of Rudy Koehler Sr., the former CEO of Noma.
In a Dec. 4 news release, officials with KB Components said that Innotech will become a subsidiary of KB Components Canada Inc.
“We are delighted to be partnered with KB,” Koehler said in the release. “Our business philosophies align perfectly, and we feel that the future of our organization and our customers is in good hands with the KB team.”
David Ulrich, president of KB Components Canada Inc., emphasized that Innotech’s “high quality standards and expansion capabilities makes it a valuable acquisition,” and that it also enables KB to access customers and markets previously not available.
The Innotech deal is KB Components second purchase in Ontario in the past two years. In November 2021, it acquired Windsor-based Lakeside Plastics Ltd.
KB Components Group specializes in the design, development and manufacture of plastic components for the automotive, medical, and consumer goods industries.
