Milacron Acquiring Kortec to Become a Global Leader in Co-Injection Barrier Technology
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CINCINNATI, OH –Â Milacron LLC, a global provider of high-precision plastics processing technologies, has announced the acquisition of Kortec, a leading supplier of co-injection technology solutions to the packaging industry. This combination positions Milacron as a leading provider of fully integrated, turnkey co-injection barrier systems.
Customers will have the flexibility to purchase a fully integrated Kortec system, or choose to add a retrofit co-injection 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 co-injection molding lines.
Milacron CEO Tom Goeke stated "The addition of Kortec is a perfect accompaniment to Milacron's acquisition of hot runner manufacturer Mold-Masters in 2013. 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."
Injection molded barrier packaging has seen significant growth in the last 5 years to replace cans, tin, glass and thermoforming in markets such as shelf stable thin wall packaging, beverage packaging, pet foods, single serve coffee and medical parts. The growth is driven by the cost, quality, shape and productivity advantages of plastic packaging.
Kortec President and CEO Paul Swenson commented that "This presents a great opportunity for Kortec and its employees to reach a larger customer base with the global reach and resources provided by teaming with Milacron. 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."
The transaction, subject to customary closing conditions, is expected to close before the end of February 2014.
About Milacron LLC
Milacron LLC and its businesses are committed to being the leading suppliers of plastics-processing technologies and industrial fluids around the world. The people of Milacron's companies know what matters in manufacturing, and every day, put this know how to work to help customers improve productivity, cut costs, increase energy efficiency, eliminate scrap and reduce cycle times.
About Kortec
Kortec is the world's largest supplier of co-injection systems to the plastics and packaging industries. The company's systems are used throughout the world to produce high-barrier multi-layer containers featuring threelayer construction that optimizes clarity and strength while maximizing the shelf life of the end-use products. For more information, visit http://www.kortec.com/
Press Contact:
Michael Ellis, Director, Global Marketing and Communications +1 (905) 877 0185 x354 or MEllis@moldmasters.com
