Acquisition of KTW to be finalized in May
March 10, 2011
by PIC staff
The financial details of the deal are not being released. The sale is expected to close this May.
Husky has been working with the Austrian company for 14 years.
“We realized that even closer collaboration would be needed in developing the core elements of the closure system,” said John Galt, Husky’s president and CEO.
KTW has operations in Austria, the Czech Republic and Germany
Once the deal is finalized, Husky will offer KTW-branded closure molds as part of its fully integrated turnkey systems.
This will make Husky the closure industry’s only provider of complete injection molding systems, including mold, machine, hot runner, temperature controller, as well as a range of consulting and after-sales services, according to the company.
KTW managing directors Anja and Claus Ziegler will continue to be involved in the business.
Husky also plans to initiate a strategic review process for KTW’s custom injection molding division, Injectoplast. This process will start once the acquisition is finalized.
Photo courtesy of Husky: John Galt (left) with Claus (middle) and Anja (right) Ziegler following acquisition announcement