Milacron completes CanGen purchase
December 2, 2015 by Canadian Plastics
Processing equipment manufacturer Milacron Holdings Corp. has completed its acquisition of CanGen Holdings Inc., a supplier of aftermarket process control components for injection molding and extrusion applications.
Headquartered in Atlanta, Ga., CanGen consists of Canterbury Engineering Company and Genca subsidiaries, and reported approximately US$20 million in sales last year.
“With the acquisition completed, Milacron’s aftermarket capabilities now include a broadened product offering into downstream tooling, proprietary rights to over 185,000 designs and drawings, and a regional centre for parts and service in the southeastern U.S.,” Milacron said in a statement. “Genca also has a strong market position in Mexico and throughout South America , which will be leveraged under Milacron ownership.”
The consumables product market served by Canterbury and Genca includes screws and barrels, tooling and cross-heads, and other machined metal components.
The transaction was first announced in early November 2015. The financial terms of the deal have not been disclosed.
Headquartered in Cincinnati, Ohio, Milacron offers a full-line product portfolio that includes hot runner systems, injection molding, blow molding and extrusion equipment plus a range of advanced fluid technologies.