Moldflow Corporation to Sell Manufacturing Solutions Division, 1 in a Series

By DE Editors

Moldflow Corporation (Framingham, MA) has announced that it has signed an asset purchase agreement under which it will sell substantially all of the assets related to its Manufacturing Solutions division to Husky Injection Molding Systems Ltd. (Bolton, Ontario). The sale, which is expected to be completed during the fourth quarter of fiscal 2007, amounts to approximately $7 million and the assumption of certain liabilities by Husky, and is subject to certain closing conditions.

"We are pleased to announce the agreement between Husky and Moldflow,” said Moldflow President and CEO Roland Thomas. “When we announced that the company was holding the Manufacturing Solutions division for sale, it was our intention to find a buyer with a suitable infrastructure to sell and support our Manufacturing Solutions products globally. Both Moldflow and Husky share a common belief regarding the importance of providing products and services that link the product design and manufacturing processes.” He said that Husky was the company to do that.

"This acquisition brings to Husky an experienced team, a wealth of technology expertise and a highly complementary set of innovative products. As a result, we will offer our customers greater value and continue growing this strategic area of our business," said Keith Carlton, VP of Husky's Hot Runners and Molds division.

Under the agreement, Husky will acquire substantially all of the assets of the Manufacturing Solutions division, including the Altanium, Shotscope, and Celltrack product lines. The Moldflow Plastics Xpert (MPX) software product will be retained by Moldflow.

For more information, visit moldflow.com.

Sources: Press materials received from the company and additional information gleaned from the company's website.