Hydratec to acquire majority interest in Dutch injection molding machine maker Stork
Canadian Plastics
Plastics ProcessesHydratec said it is in talks to purchase 75 per cent of the shares of Stork and also plastic pipe extruder Rollepaal Holding BV.
Industrial systems supplier Hydratec Industries NV is in the final stages of discussions with financial services company Wadinko NV to acquire majority ownership of Netherlands-based injection molding machinery supplier Stork Plastics Machinery BV and Dedemsvaart-headquartered plastic pipe extruder Rollepaal Holding BV.
The financial terms of the deal have not been disclosed.
The company believes investment from Hydratec and existing shareholder Wadinko will support the continued growth and development of Stork’s business.
Hydratec will take a 75 per cent interest in both Stork and Rollepaal.
Stork will continue to operate as an independent company and will retain its current brand and company logo.
“This plan dovetails very well with Hydratec Industries’ growth ambitions. Both these machinery manufacturers have many years of experience and are true specialists in their niche markets. This constitutes a major expansion of Hydratec Industries’ Systems activities,” said Bart Aangenendt, CEO, Hydratec.
Stork specializes in the design and manufacture of high-speed injection molding machines. The company employs approximately150 people at its facilities in Hengelo, Netherlands and Meinerzhagen, Germany.
