Mold-Masters acquires PET partner ABBAMold-Masters acquires PET partner ABBA
Hot runner supplier Mold-Masters (Georgetown, ON) has acquired PET components company partner, ABBA Systems, and announced a new brand called MasterPET, shifting away from the iPET brand it launched with ABBA in September 2009 during Drinktec.
September 30, 2010
with ABBA in September 2009 during Drinktec. Saying that it needed a seamless supply chain, Bruce Catoen, VP of business and product development at Mold-Masters said the decision to acquire ABBA was also driven by its customers. "Global reaction to our preform mold building initiative has been overwhelming," Catoen said.
The company also announced today that it is renaming its PET business, shifting from the iPET brand used to establish the marketing alliance with ABBA to MasterPET (MPET). Mold-Masters also noted that it has made what it calls "significant" capital investments in machining, test-room equipment, and new technologies, including iCool stacks and iFlow hot runners. Established in 1993, ABBA Systems (Brantford, ON) has 78 employees. Mold-Masters employs more than 1250 with locations in 40 countries.
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