Husky Injection Molding Systems Ltd., the Bolton, Ontario-based maker of injection presses, robots, PET preform molds and hot runners, generated 2009 sales of C$1.14 billion ($994 million), a decline of 12 percent from 2008 sales of C$1.3 billion.
Husky's financial results were included in Onex Corp.'s annual report, released Feb. 25.
Onex, a Canadian private equity firm, bought Husky in 2007 and took it private. But Onex itself is publicly traded on the Toronto Stock Exchange.
Onex gave some analysis in the annual report: While Husky significantly improved its margins in 2009, sales were lower primarily due to the global economic recession. A 13 percent increase in sales in Latin America partially offset declines in North America (down 23 percent), Europe (down 31 percent) and Asia (off 3 percent).
Sales also were impacted by unfavorable foreign current exchange on euro-denominated sales ($18 million) and the decision to discontinue certain product lines ($20 million), Onex said. In 2009 Husky stopped making large injection molding presses to focus on its core area of presses for PET preforms and thin-wall packaging.
In other news, Husky will auction 16 pieces of metal-cutting equipment, along with a laser manufacturing cell and two paint lines. Toronto-based Corporate Assets Inc. will conduct the auction March 23-24 in Bolton, down the street from Husky's headquarters.
Husky spokeswoman Alexandra Walsh called the auction a normal business practice.
Copyright 2010 Crain Communications Inc. All Rights Reserved.