Product category:
General packaging materials, equipment and services
News Release from: Husky Injection Molding Systems
Edited by the Manufacturingtalk Editorial
Team on 14 March 2007
Huskey looks at share sale
Husky Injection Molding Systems announces a review regarding possible sale of shares
Husky Injection Molding Systems has announced that it has initiated a review which will include the possibility of a sale of part or all of the Company's shares or a strategic combination with another business This review is based on Robert Schad's decision to consider a sale of his shares
This article was originally published on Manufacturingtalk on 16 Aug 2005 at 8.00am (UK)
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Preform Systems For Hot Fill Applications
Husky Injection Molding Systems has now delivered more than 200 preform systems around the world for hot-fill applications.
However, there is no assurance that this review will result in any specific strategic or financial transaction.
The Company has engaged Citigroup Global Markets as its financial advisor.
"Over the past decade, we have made substantial investments to develop our leading technology platform, expand our markets and distribution network, improve our operations, and build a strong management team", said Robert Schad, Chairman of the Board and Husky's largest shareholder.
"While Husky's competitive position has become stronger as a result, we do not believe that this position is reflected in our current market valuation." "Husky has reached an important point in its evolution", said John Galt, President and Chief Executive Officer.
"At this point it makes sense for us to consider Husky's future, and to do so on the basis of a strong position in the market".
"I am therefore in full support of this initiative, as is Husky's Board.".
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