MGS Acquires European-Based Formteknik
Acquisition enhances company’s tooling and integrated services offerings in Europe.
GERMANTOWN, WI (January 7, 2021) – Germantown, WI-based MGS, a provider of vertically integrated manufacturing solutions for complex, high-precision plastic components, announced today the acquisition of Formteknik, a European leader in innovative tooling solutions with operations in Denmark, Sweden, and Germany.
This acquisition strengthens MGS’ ability to serve as a single source of supply for integrated tooling, molding, and automation capabilities to global customers in healthcare, automotive, packaging, and consumer industries.
“We are excited to welcome Formteknik to MGS. Culturally, we have tremendous alignment – everything our organizations 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,” said Paul Manley, President/CEO of MGS.
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 mold building, injection molding, 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.
As a proven single-source of manufacturing expertise and accountability – in tooling, molding, and automation equipment technology – MGS knows how to deliver custom, integrated solutions that drive business performance and growth. MGS controls more of the supply chain in-house, minimizing risk, maximizing resources, and delivering better performance at every phase of every job.
Formteknik provides innovative solutions from the early development phase to the validated upscale turn-key solution, ready for transfer, and high-volume production goods phase. With operations in Denmark, Sweden, and Germany, Formteknik provides their customers with innovative solutions that drive out cost, improves precision and output, and streamlines their European supply chain.