Husky and Onex Obtain Interim Order for Plan of Arrangement



    TORONTO, Oct. 26 /CNW/ - Husky Injection Molding Systems Ltd. ("Husky")
(HKY - TSX) announced today that the Ontario Superior Court of Justice (the
"Court") has issued an interim order authorizing, among other things, the
holding of a special meeting of the holders of common shares of Husky, at
which such holders will be asked to approve the proposed arrangement (the
"Arrangement") involving Onex Corporation's offer to purchase all of the
issued and outstanding common shares of Husky, which was announced on
September 28, 2007 and amended, as announced, on October 22, 2007.
    Husky will hold an annual and special meeting of shareholders at 11:00
a.m., local time, on Thursday, December 6, 2007, at Husky's Advanced
Manufacturing Center Auditorium, 500 Queen Street South, Bolton, Ontario. The
record date for determining the holders of common shares of Husky entitled to
receive notice of and to vote at the Husky meeting is October 18, 2007. At the
December 6 meeting, Husky shareholders will be asked to approve, among other
things, the Arrangement. For the Arrangement to be approved by the Husky
shareholders, the resolution must be passed by at least 66 2/3% of the
shareholders.
    Robert Schad, Husky's controlling shareholder, his spouse, Elizabeth
Schad, and their holding company have entered into an exclusive and
irrevocable voting agreement to vote 47,705,670 common shares owned by them,
and Robert Schad has also agreed to vote an additional 3,971,713 common shares
controlled by him, representing in the aggregate 44.08% of the issued and
outstanding common shares of Husky, for approval of the Arrangement at the
Husky meeting.
    The proxy circular of Husky, as well as the related proxy forms and
letters of transmittal, are expected to be mailed to Husky shareholders in
early November.
    The Arrangement is also subject to final approval of the Court. Assuming
that shareholders approve the Arrangement, Husky is expected to apply to the
Court on December 10, 2007 (or as soon as possible thereafter) for a final
order in respect of the Arrangement. Assuming that the final order is obtained
and all other conditions precedent to the Arrangement are satisfied or waived,
the Arrangement is expected to close on or about December 11, 2007.

    About Husky

    Husky Injection Molding Systems Ltd. (www.husky.ca) is a leading global
supplier of injection molding equipment and services to the plastics industry.
The Company has more than 40 service and sales offices, supporting customers
in over 100 countries. Husky's manufacturing facilities are located in Canada,
the United States, Luxembourg and China. The Company's common shares (HKY) are
listed on the Toronto Stock Exchange.

    %SEDAR: 00011000E




For further information:

For further information: Steve Snyder, Husky Injection Molding Systems
Ltd., (905) 951-5000 ext. 2019, ssnyder@husky.ca

Organization Profile

HUSKY INJECTION MOLDING SYSTEMS LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890