The sale is expected to close in May 2011. This announcement represents the next logical step in the relationship that has developed between the two companies over the last 14 years.
“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. Through this acquisition, we will be able to work with the many talented people of KTW as one team to deliver more value to closure manufacturers in both emerging and established markets.”
Effective upon closing, Husky will offer KTW‐branded closure molds as part of its fully integrated turnkey systems. With the addition of KTW molds, Husky will become 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.
The leadership team of KTW, including Managing Directors Anja and Claus Ziegler, will continue to be closely involved in leading the business after the completion of the transaction. In addition, KTW’s operations in Austria, the Czech Republic and Germany, will become Husky’s closure mold development and manufacturing centers of excellence.
“As a technical leader with many close customer relationships, we are proud of what our team has accomplished so far,” said Anja and Claus Ziegler, Managing Directors of KTW. “Becoming part of Husky will allow us to incorporate KTW technologies into the industry’s most advanced closure molding systems, while also gaining the advantage of Husky’s extensive sales and service network to better support our increasingly global customer base.”
In a related development, Husky plans to initiate a strategic review process for KTW’s custom injection molding division, Injectoplast. Although a growing business with many strong customer relationships, this is necessary to ensure the future success of Injectoplast and avoid any potential conflict of interest with Husky’s customers. This process will begin following the close of this acquisition.