Milacron Holdings Corp. Completes Acquisition of CanGen Holdings
By Business Wire News
By Business Wire News
Milacron Holdings Corp. (“Milacron”) (NYSE: MCRN), a leading industrial technology company serving the plastics processing industry, announced that it has completed the acquisition of CanGen Holdings, Inc. (“CanGen”) consisting of subsidiaries Canterbury Engineering Company and Genca. CanGen is a leading supplier of highly engineered aftermarket process control components for extrusion and injection molding applications and will now be part of the Milacron Extrusion product offering.
Milacron’s extrusion business consists of OEM machines, barrel & screw rebuild and repair, gearbox repair and extrusion service and parts. The extrusion business is expanding into emerging markets with machine building capability in China and as recently announced in India with a successful open house event held in November.
With the acquisition completed, Milacron’s aftermarket capabilities now include a broadened product offering into downstream tooling, proprietary rights to over 185,000 unique designs and drawings, and a regional center for parts and service in the southeastern U.S. Genca also has a strong market position in Mexico and throughout South America , which will be leveraged under Milacron ownership. The consumables product market served by Canterbury and Genca includes screws & barrels, tooling and cross-heads, and other machined metal components.
Ron Krisanda, Milacron’s Chief Operating Officer, Advanced Plastic Processing Technologies (APPT) was quoted saying, “The addition of CanGen fits perfectly within our APPT group and will add new market focus in rubber, recycling, medical, cross head and small profile tooling. It also further extends our aftermarket capabilities, a part of our business that has been accelerating very well over the last 12 months and continues to be a key focus for our company. The global reach of the combined company’s capabilities will offer far greater value to our customers than any other extrusion company. A total life cycle product offering and working with our customer through every stage of their processing life is a major differentiator for us. It’s important for our customers and therefore is important for Milacron.”
Milacron’s acquisition of CanGen, is another example of how Milacron continues to push the boundaries of possibilities in plastics with breakthrough products from leading brands including Milacron, Mold-Masters, DME, Ferromatik, Uniloy and CIMCOOL.
Milacron is a global leader in the manufacture, distribution and service of highly engineered and customized systems within the plastic technology and processing industry. Milacron is the only global company with a full-line product portfolio that includes hot runner systems, injection molding, blow molding and extrusion equipment plus a wide market range of advanced fluid technologies. Visit the new Milacron at www.milacron.com
Michael Ellis, 905-877-0185 ext. 354
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Mac Jones, 513-487-5057
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Monica Gould, 212-871-3927