MGS, a supplier of tooling, molding, and automation technology for the production of precision plastic components, has acquired Formteknik, a company specialized in tooling solutions with operations in Denmark, Sweden, and Germany.
The acquisition strengthens MGS’ ability to serve as a single-source supplier of integrated tooling, molding, and automation capabilities to global customers in the healthcare, automotive, packaging, and consumer sectors, said the Germantown, WI–based company in the announcement.
“We are excited to welcome Formteknik to MGS. Culturally, we have tremendous alignment — everything our organizations do revolves around delivering superior solutions for our customers. With Formteknik, MGS can now deliver integrated manufacturing solutions in Europe with a single point of contact, which mirrors our model in North America,” said Paul Manley, President and CEO of MGS.
Formteknik’s management team — Henrik Jørgensen (Denmark), Jan Aronsson (Sweden), and Dirk Paulmann (Germany) — issued the following statement: “Our services, from tool development to turnkey injection molding solutions and system validation, perfectly align with MGS’ current global capabilities in mold building, injection molding, and automation. The team at Formteknik is thrilled to become part of the MGS family to bring integrated manufacturing capabilities to customers across Europe.”
The acquisition expands the MGS team to 1,500 employees, with 11 facilities globally. The company recently announced the two-phased expansion of its Wisconsin-based global headquarters to consolidate its warehousing and distribution operations, as well as expand its manufacturing footprint. Phase one of the expansion is expected to be completed in the fall of 2021.