StackTeck acquires entree to Southeast AsiaStackTeck acquires entree to Southeast Asia
StackTeck (Brampton, ON), a manufacturer of high-productivity injection mold solutions primarily for the food and beverage packaging and medical markets, announced the acquisition of Matrix Technology Specialists of Hong Kong. The new company, StackTeck Matrix Systems, will have operations in Toronto, Canada; Hong Kong; Bangkok, Thailand; and Ho Chi Minh City, Vietnam.
July 6, 2010
Matrix, a relatively young startup company founded in August 2007 by a team of industry specialists, has focused its business on specific systems engineering and injection molding consulting, said Mike Gould, VP Business Development for StackTeck. In December 2007, Matrix became the Asia Technology Partner of StackTeck, which specializes in thin wall. Matrix’s business is “complementary” to StackTeck’s: integrated solutions that can be customized for each application.
“There were three aspects of Matrix that were attractive to us,” said Gould in a telephone interview. “They had a strong footprint in Asia with multiple locations; they have a systems focus; and they have a select group of customers which were complementary to what StackTeck was already doing in food and beverage packaging. It’s an entree for us into the market in the Southeast Asia region and Australia.”
Randy Yakimishyn stated, “We wanted to be able to provide more comprehensive solutions to the global market for injection molding packaging equipment. For StackTeck, Asia represents opportunity and growth. Therefore, in making this acquisition it was key for us to have an experienced, trusted Asian partner to provide access to the technology and the supply chain in order to be the new leader in fast, flexible innovative systems.”
The acquisition also enables StackTeck to have a local direct sales channel for systems integration and after-sales service and support through a team the company currently has there now.
StackTeck will be exhibiting at K-Show in Düsseldorf, where it will have multiple systems on display and operating with a select group of partners.
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