Husky's hunt to acquire a closure molder is complete. Husky Injection Molding Systems, the manufacturer of injection molding machines, hot runners and molds for PET preforms, reports it will acquire plastic closure mold manufacturer KTW. Husky likely will divest KTW's custom molding business to avoid any conflict of interest with its customers.
Both companies are privately owned and did not share details on the price of the acquisition. The sale is expected to close in May 2011. "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, in a statement. The acquisition obviously will cement the close relationship....