Wittmann Canada Inc. has bought the M-Tek brand of blending and materials-handling equipment from Mould-Tek Industries Inc. for undisclosed terms.
``We will be able to develop the blenders and materials-handling equipment further as part of our total auxiliary solution, using our in-house controls capabilities,'' said Wittmann Canada President Rob Miller.
The companies announced the deal June 8 at Mould-Tek's Toronto headquarters.
Wittmann has lacked in-house production of blenders and the acquisition will allow it to offer more integrated materials-handling systems, officials said. The products will be marketed by Wittmann around the world. Wittmann Canada is a subsidiary of Wittmann Kunststoffgerate GmbH of Vienna, Austria.
Mould-Tek will continue manufacturing the M-Tek line at its Toronto facility until Wittmann merges the production with its other activities in a new Toronto-area location. Wittmann Canada now is based in Markham, Ontario. Wittmann eventually will brand the blenders and related lines with its own name.
Lorne Berggren, Mould-Tek chief executive officer, said his firm will continue in its injection molding-related businesses of representing original equipment manufacturers of injection presses and related auxiliary equipment. He said Wittmann's global exposure will provide a higher profile for the blenders his company developed.
The acquisition will hike Wittmann Canada's sales to about C$20 million (US$18.8 million) per year and boost staff levels to 55. Wittmann Canada is the new name of Nucon Wittmann Inc., a moniker that dates back to 1999, when Wittmann bought Nucon Systems.