Moldworx has been acquired by global precision plastics manufacturer, Sunningdale Tech Ltd, based in Singapore, via its US subsidiary, Sunningdale Tech Inc.

According to the company, Sunningdale Tech Ltd employs approximately 8,000 people globally and builds injection molds for presses in the 10-1,800 ton range, primarily for the automotive, consumer, and healthcare markets, for film insert molding (FIM), LSR, stack molds, multi-shot, gas assist, and molds for thin-wall high speed molding.

Moldworx will reportedly retain its name as well as all current employees.

‘The next big step to expansion requires a substantial amount of capital infusion,’ said Jim Taylor, founder and owner of Moldworx. ‘While we weren’t looking to sell, Sunningdale was looking for entry into the US market with a successful company that was aligned with their capabilities in the markets they serve.’

This story uses material from Moldworx, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.