Milacron, a leading industrial technology company serving the plastics processing industry, has announced it has entered into a definitive agreement with Osgood Capital Group and Cyprium Investment Partners to sell its Uniloy Blow Molding business.
Tom Goeke, Milacron President and CEO, said: “The sale of the Uniloy Blow Molding business is being transacted in the best interests of Milacron, its stockholders, and its customers.”
“Uniloy has operated as a Milacron product brand since 1998, and we are confident it will continue to thrive under its new ownership in the years ahead.”
“This divestiture is consistent with our decision to concentrate on our core industry-leading technologies including Milacron injection moulding machines, Milacron extrusion equipment, Mold-Masters hot runner and control systems, DME mould components, and our CIMCOOL fluid technologies.”
The new Uniloy organisation will be led by Brian Marston, and he will serve as President and CEO.
Marston is currently President of Blow Molding and Extrusion at Milacron, and has held leadership roles within the plastics and blow moulding industry for 35 years.
He said: “The new Uniloy organisation will continue to provide the same high-performance machinery, technical expertise, and aftermarket support that our customers have experienced since the 1960s.”
“The Uniloy brand will continue to be recognised as a global leader in the blow moulding industry. We will be working hand in hand with Milacron to make this a seamless transition for our customers. All existing orders will continue to be manufactured to the industry’s highest standards.”