HORSEHEADS, N.Y. — Hardinge Inc. (NASDAQ: HDNG) today announced plans to acquire the assets of the Voumard internal diameter (ID) grinding business from Rendsburg, Germany–based Peter Wolters GmbH.
Hardinge, a Horseheads–based provider of advanced metal-cutting tools and accessories, made the announcement in a Tuesday news release. No financial terms were disclosed.
Peter Wolters is a supplier of precision machine tools and systems, according to the company’s website.
(Sponsored)
The Importance of a Quality of Earnings Study
Are you planning to buy a business or sell your own business? If yes, then it is highly recommended to get a Quality of Earnings (QoE) study done. A QoE
Can a Generative AI Use Policy for the Workplace Help Protect Sensitive Data?
Artificial intelligence is a buzzword for many industries. It has good and bad effects on the future of creating content, finding information, and other uses. So, what does this mean
Hardinge intends to add the Voumard products to its grinding brands, which also include Kellenberger; Hauser; Jones & Shipman; Tschudin; and Usach, Rick Simons, chairman, president and CEO of Hardinge, said in the news release.
“We plan on moving Voumard’s production and support back to its roots in Switzerland, where we will integrate it into the company’s existing Kellenberger business. We expect to be quoting machines by the end of this year and be in a position for initial sales to be generated in late 2015,” said Simons.
The Hardinge grinding group’s Voumard ID offerings will “complement” the firm’s current product lines, resulting in a “complete spectrum” of internal and external diameter cylindrical-grinding services to provide customers, he added.
Founded in Neuchatel, Switzerland nearly 70 years ago, Voumard serviced the ID grinding market with an installed base of over 9,000 machine options, according to the Hardinge news release.
The firm eventually moved to Germany in 2010 after Peter Wolters acquired the business in 2005.
Voumard serves more than 2,500 customers around the world, according to Hardinge.
Contact Reinhardt at ereinhardt@cnybj.com
