SHL Medical AG has acquired Wake Forest, N.C.-based injection mold maker Superior Molding Inc. to meet growing demand in the autoinjector market.
The acquisition will complement SHL's new manufacturing site in North Charleston, S.C., which is scheduled to begin operations in mid-2024.
"The demand for our autoinjectors, including treatment areas such as diabetes and weight management, is growing rapidly," Ulrich Faessler, chairman and CEO of SHL Medical, said in a Jan. 11 news release. "This acquisition marks a significant milestone in our journey towards globalizing our operations to better serve our customer base. We are happy to welcome Superior Tooling into the SHL family."
SHL has another manufacturing site under construction in Zug, Switzerland, and existing facilities in Taiwan.
"The U.S. company will work closely with SHL's existing tooling departments to develop new solutions for its global customer base," the release said.
SHL did not immediately respond to request for comment by Plastics News.
"We take great pride in having our capabilities recognized by a global player, and eagerly look forward to maximizing them as integral members of SHL Medical," Robbie Earnhardt, president of Superior Tooling, said in the release.
Superior Tooling manufactures tools and molds for injection molding, specializing in injection mold and die cast mold manufacturing for the medical sector, among other markets.
SHL Medical manufactures, designs and develops drug delivery systems for pharma and biotech companies including autoinjectors, pen injectors and specialty delivery systems for large-volume and high-viscosity formulations. It also offers final assembly, labeling, and packaging.
SHL has locations in Switzerland, Taiwan, the U.S., and Sweden.