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

French investment firm buys Alabama-based CSP Technologies

January 30, 2015 1:10 pm ET

A French investment firm has finalized a deal to buy CSP Technologies Inc., an Auburn, Ala., company that makes specialty plastics packaging.    More

Image

Yizumi's stock price shoots up

January 30, 2015 11:56 am ET

Chinese injection press maker Guangdong Yizumi Precision Machinery Co. Ltd. has seen its stock price more than double in the first five trading days...    More

Image

Lubrizol buys Brazil-based coatings technology manufacturer

January 30, 2015 11:50 am ET

Specialty chemicals company Lubrizol Corp. of Wickliffe, Ohio, said it has acquired a Brazilian company that makes coatings technology for products...    More

Image

China to lead the way on robots

January 30, 2015 11:12 am ET

More industrial robots will be operating in China’s production plants than in the European Union or North America by 2017.    More

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events