Gleason, Harbin Enter Joint Venture
April 13, 2005—Gleason Corp. announced today that it is in the process of forming a joint venture company with Harbin No. 1 Tool Corp. for the production of precision gear cutting tools.
Both companies plan to produce high precision gear cutting tools and provide service to end user markets. The joint venture will be named Gleason Yi Gong (Harbin) Cutting Tools Co., Ltd.
In the mid-1980s, Gleason licensed Harbin for certain tool technologies. Gleason will now contribute and license its latest technology, including proprietary equipment and software as well as provide support in the form of technical know-how and training.
A letter of intent has been signed detailing the terms of the joint venture which is slated to begin in the third quarter of this year. Gleason and Harbin No. 1 will own 70% and 30% of the joint venture, respectively.
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Gleason Corporation’s mission is to be The Total Gear Solutions Provider™ to its global customer base. Gleason is a world leader in the development, manufacture and sale of gear production machinery and related equipment. The Company’s products are used by customers in automotive, truck, aircraft, agriculture, mining, windpower, construction, power tool and marine industries and by a diverse set of customers serving various industrial equipment markets. Gleason has manufacturing operations in Rochester, New York; Rockford, Illinois; Dayton, Ohio; Munich and Ludwigsburg, Germany; Studen, Switzerland; Bangalore; India, and Suzhou, China and has sales and service offices throughout North and South America, Europe and in the Asia-Pacific region. ...Read more Or visit www.gleason.com