Georgetown, Ontario / Canada-based hot runner solutions supplier Mold-Masters (Europe: Baden-Baden / Germany; www.moldmasters.com) has acquired machining specialist Abba Systems (Brantford, Ontario / Canada; www.abbasystems.com). The two companies have been cooperating in the building of PET preform moulds since 2009. Following the acquisition, Abba has renamed its PET business “MasterPET”. Terms of the acquisition were not disclosed.

Meanwhile, in an apparently unrelated move announced on the same day as the acquisition, Mold-Masters president and CEO Jonathon Fischer has stepped down from his position. Hamdi Conger, the company’s chairman, was named interim CEO and now heads the executive management team. The company did not give any reason for the change and is expected to announce the appointment of a new, permanent CEO in the near future.

Mold-Masters said Fischer will continue to be involved in the company as a shareholder with family ownership. It added that it does not expect to make any additional structural or executive leadership changes at this time.