BOLTON, ON, June 25 /CNW/ - Husky Injection Molding Systems Ltd. (TSX:
HKY) today announced that it has signed an agreement to acquire substantially
all of the assets of Moldflow Corporation's (NASDAQ: MFLO) Manufacturing
Solutions Division for $7 million. The sale is expected to close on June 30,
Husky is one of the largest suppliers of hot runners and tooling for the
injection molding industry. Through this acquisition, the Company will expand
its product offering by adding temperature controllers, process management and
data communication software to its leading hot runner and machine portfolio.
Effective upon closing, the Company will offer customers Altanium
temperature controllers, Celltrack and Shotscope software products, as well as
MPX under license, Moldflow Corporation's automated process set-up and
optimization tool. In addition, the Company will continue to offer the current
line of LEC and TTC hot runner controllers during a transition period.
On May 10, 2007, Moldflow Corporation announced its intention to sell the
Manufacturing Solutions Division. Commenting on today's announcement, Roland
Thomas, Moldflow Corporation's President and CEO, said, "I believe that Husky
is a strategic owner with the global infrastructure, expertise and focus
needed to take our Altanium and shop floor products to the next level."
"This transaction brings to Husky an experienced team, a wealth of
technology expertise and a highly complementary set of innovative products,"
said Keith Carlton, Husky's Vice President of Hot Runners and PET Molds. "As a
result, we will offer our customers greater value while continuing to grow
this strategic area of our business."
"The acquisition of Moldflow's Manufacturing Solutions Division is
consistent with our strategy of building a portfolio of leading products and
services to better serve our customers," said John Galt, Husky's President and
CEO. "By leveraging our industry leading service and sales network and our
strong position in tooling, we will be able to deliver these innovative
products to an expanded range of customers."
Husky Injection Molding Systems (www.husky.ca) is a global supplier of
injection molding equipment and services to the plastics industry. With one of
the broadest product lines in the industry, customers use Husky equipment to
manufacture a wide range of products in the packaging, technical and
automotive industries. 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.
For further information:
For further information: Alexandra Walsh, Media Relations, Husky
Injection Molding Systems, (905) 951-5000, ext. 3653, firstname.lastname@example.org