German blow molding and packaging machinery supplier Krones AG has strengthened its PET portfolio through the acquisition of MHT Holding AG.
Based in Hochheim, Germany, MHT and its subsidiaries specialize in injecting molding tools and services to the PET industry, with sales of €25 million annually.
With the acquisition, the company is expanding its PET portfolio into tooling for PET preform manufacturing, closing a gap in its value chain.
The move is in response to increasing demand by the beverage industry for “integrated solutions,” said Krones in a Nov. 8 statement.
“Acquiring MHT enables Krones to close the PET cycle, from PET preform manufacturing and stretch blow molding all the way through to PET recycling – and then back to the manufacture of a new preform,” the company added.
Post-acquisition, MHT will continue with its current management team in Hochheim.
The move follows another PET-related acquisition by Krones in earlier this year, in which the company acquired a 70 percent share in Switzerland-based Integrated Plastics Systems AG in April. The Swiss company supplies turnkey PET injection molding solutions for the beverage industry.