Mould company agrees sale of assets
A
Moldflow (Europe) product story
Edited by the Engineeringtalk editorial team
Jun 28, 2007
Husky is set to acquire almost all of the assets of Moldflow's Manufacturing Solutions division, including the Altanium, Shotscope and Celltrack product lines.
Moldflow has signed an asset purchase agreement that will see it sell all of the assets related to its Manufacturing Solutions division to Husky Injection Molding Systems, located in Bolton, Ontario, Canada.
The sale, which is expected to be completed during the fourth quarter of the 2007 fiscal year, is for US $7.0 million and the assumption of certain liabilities by Husky, and is subject to certain closing conditions.
On the sale of the Manufacturing Solutions division, Roland Thomas, Moldflow's President and CEO, said "We are pleased to announce the agreement between Husky and Moldflow".
"When we announced that the company was holding the Manufacturing Solutions division for sale, it was our intention to find a buyer with a suitable infrastructure to sell and support our Manufacturing Solutions products globally".
"Both Moldflow and Husky share a common belief regarding the importance of providing products and services that link the product design and manufacturing processes".
"We believe that Husky is the right company to provide products that fit that common vision, as well as provide the high level of service and support that Moldflow's customers have come to expect".
"This acquisition brings to Husky an experienced team, a wealth of technology expertise and a highly complementary set of innovative products".
"As a result, we will offer our customers greater value and continue growing this strategic area of our business", said Keith Carlton, Husky's Vice President of Hot Runners and Molds.
Under the agreement, Husky will acquire almost all of the assets of the Manufacturing Solutions division, including the Altanium, Shotscope and Celltrack product lines.
The Moldflow Plastics Xpert (MPX) software product will be retained by Moldflow.
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