Husky to acquire Austrian closure moldmaker KTW

Husky Injection Molding Systems has announced plans to buy Austrian closure moldmaker KTW.

Bolton, Ont.-based Husky said the sale is expected to close in May, 2011; the terms of the deal have not been disclosed.

As of the deal’s closing, Husky will offer KTW-branded closure molds as part of its turnkey systems.

“Husky and KTW have worked very closely to develop closure manufacturing solutions that enhance productivity, eliminate waste and improve part quality for our customers,” said John Galt, Husky’s president and CEO. “However, to meet the increasing expectations of our customers, we realized that even closer collaboration would be needed in developing the core elements of the closure system.”

The leadership team of Waidhofen, Austria-based KTW will continue to be involved in leading the business after the completion of the transaction, Husky said. In addition, KTW’s operations in Austria, the Czech Republic and Germany, will become Husky’s closure mold development and manufacturing centres.

In a related development, Husky also announced plans to initiate a strategic review process for KTW’s custom injection molding division, Injectoplast. The process will begin following the close of the acquisition.