Milacron buys Kortec

By Bill Bregar
Senior Staff Reporter

Published: February 19, 2014 3:28 pm ET
Updated: February 20, 2014 2:10 pm ET

Image By: Milacron LLC Tom Goeke

Related to this story

Topics Mergers & Acquisitions, Machinery, Molds/Tooling
Companies & Associations Milacron LLC

Milacron LLC has made another acquisition, picking up Kortec Inc., a supplier of coinjection molding technology for making barrier packaging, the machinery maker announced Feb. 19.

The deal makes Milacron a major provider of fully integrated, turnkey co-injection barrier systems.

"The addition of Kortec is a perfect accompaniment to Milacron's acquisition of hot runner manufacturer Mold-Masters in 2013," said Milacron CEO Tom Goeke. "Mold-Masters' existing IRIS barrier technology and Milacron's machinery platform, in partnership with Kortec, will create the widest co-injection solutions capability in the plastics industry. This furthers our vision to focus on giving our customers an unprecedented range of fully integrated solutions."

Terms were not disclosed for the deal, which is expected to close before the end of February. Kortec is in Rowley, Mass.

Kortec was founded by Paul Swenson, who in 1995 left Kona Corp., the hot runner maker he founded, to start Kortec and focus on coinjection molding. He will remain with the company under Milacron's ownership.

Kortec President and CEO Paul Swenson said Milacron will help the coinjection molding technology company reach a larger, global customer base. "By teaming with Milacron, Kortec will be able to supply a wider variety of solutions, further enhancing our offerings to the market and creating better ways to serve our customers," he said.

Kortec has developed a proprietary process of filling a mold with a melt delivery system that has separate flow channels for the skin, sandwiching a middle barrier layer. Milacron officials said that injection molded barrier packaging has seen significant growth in the past five years replace cans, tin, glass and thermoformed plastics for shelf-stable thin-wall packaging, beverage packaging, pet foods, single serve coffee and medical parts.

According to Milacron, customers will have the flexibility to purchase a fully integrated Kortec system, or choose to add a retrofit coinjection melt distribution and control module to their existing injection molding equipment. Both of these options can transform operations from mono-layer manufacturing processes to complete coinjection molding lines.

Kortec is the second acquisition in recent months for Milacron, owned by private equity firm CCMP Capital Advisors LLC, has made several deals in recent months. Milacron announced Feb. 5 that it has purchased Southlake, Texas, manufacturers' representative Industrial Machine Sales Inc. and its sister company, Precise Plastics Machinery Inc.

In late 2013, Milacron bought American Extrusion Services Inc. of Springboro, Ohio. AES provides aftermarket services for extruders, including rebuilding, barrel alignment and feed screw and barrel measuring.


Comments

Milacron buys Kortec

By Bill Bregar
Senior Staff Reporter

Published: February 19, 2014 3:28 pm ET
Updated: February 20, 2014 2:10 pm ET

Post Your Comments


Back to story


More stories

Image

Gear pump maker Witte expands in Germany and USA

July 25, 2014 2:15 pm ET

Witte Pumps & Technology GmbH, the German maker of gear pumps for extrusion, has moved into a new headquarters factory in the Hamburg area, and the...    More

Image

Austrian mold maker seeking North American manufacturing partner

July 25, 2014 1:49 pm ET

An Austrian mold maker is looking for a manufacturing location in North America.    More

Image

Tooling Technology has new private equity owner

July 25, 2014 11:55 am ET

New York private equity firm GenNx360 Capital Partners has partnered with management to buy Tooling Technology Holdings LLC, a diversified Ohio-based ...    More

Image

Metals and plastics company NN to buy Autocam in $300 million deal

July 25, 2014 10:07 am ET

A Tennessee metals and plastics company said it has agreed to acquire auto parts supplier Autocam Corp. in a deal valued at $300 million.    More

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events