MGS Mfg Group Fills Gaps with Acquisition
The recent acquisition of Formteknik by MGS Mfg Group brings expert precision round work capabilities to the table that expands the company’s overall capabilities and customer service.
The acquisition expands the MGS team to 1,500 employees, with 11 facilities globally. Photos Credit: MGS Mfg. Group Inc.
MGS Mfg Group always seems to be growing, but I had to find out the reason for this latest acquisition.
“It was our lack of vertical integration in Europe. We did not have toolmaking capabilities. Now Formteknik fills that void," says Mark Ypsilantis, Director of Sales, Tooling & Integrated Solutions at MGS Mfg. Group.
Formteknik brings its expertise in precision round work, unique surface treatment and additive manufacturing technologies, to MGS, which will expand the company’s overall capabilities and customer service.
“This acquisition allows MGS to offer complete vertical integration, which de-risks programs for customers. We take it all on,” Ypsilantis says.
Formteknik brings its expertise in precision round work, unique surface treatment and additive manufacturing technologies to MGS.
Formteknik will help to strengthen MGS’ ability to serve as a single supply source for integrated tooling, molding and automation capabilities to global customers in healthcare, automotive, packaging and consumer industries
“With Formteknik, MGS can now deliver integrated manufacturing solutions in Europe with a single point of contact, which mirrors our model in North America,” MGS President/CEO Paul Manley says.
Formteknik has three locations located in Sweden, Denmark and Germany with an R&D Center next door to the Denmark location. “Formteknik is an innovative company with a lot of horsepower in engineering,” Ypsilantis says.
Formteknik’s management team of Henrik Jørgensen (Denmark), Jan Aronsson (Sweden), and Dirk Paulmann (Germany) state that its company’s services—from tool development to turnkey injection molding solutions and system validation—perfectly align with MGS’ current global capabilities.
The acquisition expands the MGS team to 1,500 employees, with 11 facilities globally. Back here in the states, MGS is building a 120,000-square-foot warehouse off of the molding center. The next phase will be another 120,000 square feet to bring in the automation group, the sampling facility, and the technology center all in one place. Phase one of the expansion is expected to be completed in the fall of 2021. The ultimate moldmaking, molding, and automation cell campus!
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