SHL Medical acquires Superior Tooling in the USA
12 January 2024 09:41
The global company SHL Medical, which moved its headquarters to Zug in 2018, is continuing its growth path: The supplier of systems for the administration of drugs and partner to major pharmaceutical and biotechnology firms has now finalized the acquisition of Superior Tooling, further details of which can be found in a press release. The company, founded in 1985 in Wake Forest in the US State of North Carolina, manufactures tools and molds for injection molding processes. It specializes in technically demanding applications that require high levels of precision and consistency across high unit numbers. Superior Tooling supplies customers in a wide range of industries, albeit with a primary focus on the medtech sector.
According to the information, this acquisition is set to strengthen in particular the vertical supply chain at the new production facility located in North Charleston, where the company expects to commence operations at some point this year. This factory, situated in the US State of South Carolina, underlines SHL’s global strategy centered on fully in-house manufacturing capabilities.
In so doing, SHL is responding to the rapid growth in demand “for our autoinjectors, including treatment areas such as diabetes and weight management”, as Ulrich Faessler, Chairman and CEO of SHL Medical, explains in the press release. Through “continuous advancements and dedication”, the company is in a position to “deliver on our strategic vision to uphold our position as market leaders”, he concludes.
SHL is set to open its new facility at the Tech Cluster Zug in 2026. Alongside Zug and North Charleston, the company operates additional sites in Taiwan and Sweden. ce/mm