Toronto Auto parts manufacturer Moose Machine is about to acquire the Canadian-based company known for its high-tech, small-scale assembly machines.
The company was founded in 2014 by Mark Moores son, Michael, who has spent the past four years working for his father, as a mechanical engineer.
He is a major shareholder in Moose Machine and is expected to invest in the company.
Moys company is already well-known for its manufacturing of some of the most advanced production machines on the market, including the $1.9 million “Moore” machine tools.
The company recently moved into the automotive industry with a $7.5 million acquisition of a company called Automotive Solutions.
The acquisition will create a new subsidiary with a focus on the production of machine tools in Canada.
It also will focus on building the company’s products in North America, a move that was seen as an important step toward increasing the company´s global presence.
Moyers story is republished from The Toronto Star with permission.