Barnes Group Inc., a Bristol, Conn., maker of hot-runner systems, molds and aerospace products, plans to purchase the Foboha molds business of Adval Tech Holding AG, Niederwangen, Switzerland, for about $136 million. The purchase will include operations in Europe, the U.S. and Asia and is expected to be completed by the end of the year, pending regulatory approvals.
Foboha, Haslach, Germany, creates complex injection molds, including its proprietary cube molds, which Barnes Group said complement its technology portfolio. Barnes Group will operate Foboha as a business within its Molding Solutions business unit.
Adval Tech, which offers product design, injection molding, assembly and other services related to plastic parts production, said it will use the proceeds from the sale primarily to reduce debt.
