MGS, a provider of vertically integrated manufacturing solutions for complex, high-precision plastic components, has announced the acquisition of Formteknik, a European leader in innovative tooling solutions with operations in Denmark, Sweden, and Germany.
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MGS acquires Europe-based Formteknik
This acquisition strengthens MGS’ ability to serve as a single source of supply for integrated tooling, moulding, and automation capabilities to global customers in healthcare, automotive, packaging, and consumer industries.
Paul Manley, President/CEO of MGS, said: “We are excited to welcome Formteknik to MGS. Culturally, we have tremendous alignment – everything our organisations 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.”
Formteknik’s management team of 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 mould building, injection moulding, 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.
