BOLTON, Ontario - Husky Injection Molding Systems Ltd. announced Monday it signed an agreement to acquire the assets of Moldflow Corp.'s Manufacturing Solutions Division for $7 million.
The sale is expected to close on June 30, 2007.
Husky supplies hot runners and tooling for the injection molding industry. The acquisition will allow the company to expand its product offering to include temperature controllers, process management and data communication software.
"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."