Wittmann Group acquires Austrian auxiliary equipment maker FarragTech
Headquartered in Austria, FarragTech GmbH has a focus on compressed air granulate drying.
In a deal involving two Austria-based companies, auxiliary and injection molding equipment maker Wittmann Group has acquired FarragTech GmbH, a manufacturer of products that use compressed air for resin drying and mold cooling.
The financial terms of the deal have not been disclosed.
In a Jan. 31 statement, Vienna-based Wittmann said that FarragTech – which is headquartered in Wolfurt, in Austria’s Vorarlberg region – has been active for the past 25 years “in plant engineering for plastics processing in the auxiliary equipment sector, with one main focus within its product range on compressed air granulate drying.”
“As the inventor of the compressed air granulate dryer as well as internal compressed air mold cooling for blow molding processes, FarragTech has invariably been setting benchmarks when it comes to utilizing the benefits inherent in these technologies,” the statement said. “Another main focus of the company’s product development lies on protection against condensation water for cooled molds, in which area FarragTech has created an exceptionally energy-efficient and low-cost solution.”
FarragTech products and employees are being integrated into the Wittmann Group structure, the statement added, and plans also call for the products to be integrated into Wittmann 4.0.
The company’s previous owner Aaron Farrag is taking over the compressed air drying and cooling segment as product manager, and will incorporate this product line into the Wittmann Group.
“We extend a very cordial welcome to the FarragTech team in our group of companies,” Wittmann’s managing director Michael Wittmann said. “With the small-quantity dryers from FarragTech, we are closing a gap in our product portfolio. Our international outreach – combined with the advantages of these technically outstanding products – promises an enormous growth potential for our new product segment.”
Wittmann’s Canadian subsidiary, Wittmann Battenfeld Canada Inc., is based in Richmond Hill, Ont.