Market News Milacron sells Uniloy Blow Molding Business
Milacron announces its defintive agreement to sell Uniloy Molding Business to Osgood Group, LLC and Cyprium Investment Partners, LLC.
Tom Goeke, Milacron President and Chief Executive Officer (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 molding machines, Milacron extrusion equipment, Mold-Masters hot runner and control systems, DME mold 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 with Milacron. He has held leadership roles within the plastics and blow molding industry for 35 years. Osgood Capital’s President, Joseph S. Levy, who has over 25 years’ experience in the plastics and packaging industry was quoted as saying, “We are excited to have this opportunity to work with the outstanding Uniloy management team led by Brian. We expect to deliver world class service and solutions for all our customers’ blow molding needs as well as strong growth in Global Uniloy brands for years to come.”
Mr. Marston was quoted, “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 molding 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.”