Ontario’s AarKel Tool buys assets of Mangas Tool and Die
The purchase expands Aarkel’s manufacturing footprint in the southern U.S.
Wallaceburg, Ont.-based moldmaker AarKel Tool and Die Inc. has acquired the operating assets of Mangas Tool and Die in Muscle Shoals, Alabama from aluminum die casting manufacturer Pace Industries Inc.
The financial terms of the deal have not been disclosed.
“The acquisition of Mangas…expands [our] manufacturing footprint for services to our current and growing customer base in the tooling market with a presence in the southern U.S.,” AarKel officials said in a statement.
Mangas will now operate as Mangas, a division of AarKel Tooling and Engineering Inc. Aarkel and its new Mangas division has been, and will continue to be a strategic supplier of tooling to Pace Industries.
The statement also said that AarKel is now “globally positioned with strategic full-service tooling and engineering capabilities in Canada, Mexico, India and the U.S.”, with supported manufacturing in China, Europe, and Brazil.
AarKel was founded in 1977 under the name Aar-Kel Moulds Ltd.