SHL Medical, a Switzerland-based provider of advanced drug delivery solutions, which is building a $150 million facility in North Charleston, has acquired Superior Tooling Inc., a Wake Forest, North Carolina-based manufacturer of plastic injection molds.
With two new manufacturing sites underway in North Charleston, and Zug, Switzerland, complementing the existing facilities in Taiwan, SHL addresses the growing demand in the autoinjector market, according to a news release.
Superior Tooling will support SHL’s strategic manufacturing operations across the Southeast, especially strengthening its vertical capabilities for the new site in North Charleston, while solidifying its local presence, the release stated.
This expansion of strengths underlines SHL’s global strategy, emphasizing one of its distinctive features — full in-house manufacturing — and positions tooling as one of SHL’s core competencies just a few hours from the new manufacturing site in South Carolina, where SHL plans to invest over $150 million and employ around 165 Charleston-area residents, the release stated.
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“The demand for our autoinjectors, including treatment areas such as diabetes and weight management, is growing rapidly,” Ulrich Faessler, chairman and CEO of SHL Medical, said in the release. “Through continuous advancements and dedication, we deliver on our strategic vision to uphold our position as market leaders. This acquisition marks a significant milestone in our journey towards globalizing our operations to better serve our customer base. We are happy to welcome Superior Tooling into the SHL family.”
Expanding tooling capabilities globally
The acquisition of Superior Tooling not only supports the tooling needs of SHL’s in-house manufacturing but also its strategy to deliver the highest quality tools to customers across industries, according to the release. The company will work closely with SHL’s existing tooling departments to develop new solutions for its global customer base.
“This marks a significant step forward for our potential and growth trajectory. We take great pride in having our capabilities recognized by a global player, and eagerly look forward to maximizing them as integral members of SHL Medical,” said Robbie Earnhardt, president of Superior Tooling. “I am confident that the synergies between our capabilities and SHL’s established tooling expertise will prove highly advantageous for both our existing and new customers”, expresses Robbie Earnhardt, President of Superior Tooling.t