Klingelnberg to Acquire Hofler GmbH
Klingelnberg GmbH, the German subsidiary of the Switzerland based Klingelnberg AG, intends to acquire the activities of Höfler Maschinenbau GmbH from NDW Draht und Stahl GmbH, a member of the NDW Group. The relevant contracts were signed on July 11, 2012. Höfler Maschinenbau GmbH is a well established manufacturer of gear grinding machines and gear hobbing machines. The machines are employed in the production of high-precision gears for use in the industry sectors of transport, shipping, mining, machine tools and renewable energies, e.g. wind turbines. The company generated revenues of EUR 83 million in 2011 with approximately 300 employees. The Klingelnberg Group is a world leader in the development, manufacture and sale of machines for the production of spiral bevel gears, measuring centers for axially symmetrical objects of all types, and the production of high-precision gear components made to customer orders. The Group recorded revenues of approximately EUR 200 m in 2011 with approximately 1,000 employees, and is renowned for product and service quality, absolute reliability and strict adherence to deadlines. The company demonstrates its capacity for innovation with some 230 R&D engineers around the globe, and made 90 successful patent applications over the last five years. "Höfler Maschinenbau’s technology is an excellent completion of the Klingelnberg Group’s existing product range of cutting and grinding machines, both in terms of application areas and the industries served” says Jan Klingelnberg, CEO of the Klingelnberg Group. "The installed base of over 1.550 machines worldwide is clear evidence of a well established clientele. The addition of Höfler Maschinenbau allows the Klingelnberg Group to advance significantly in reaching its strategic goal of being able to provide all gear technologies."
The shareholders of the NDW-Group added: “We are pleased to pass Höfler Maschinenbau to a very competent strategic owner, who will secure the long term development of operations at its current location in Ettlingen. The disposal allows us to focus more closely on our core business.”
The transaction was executed by way of an asset deal and includes the subsidiaries in the USA and in China. The completion is planned to take place on July 31, 2012. All employees will be transferred. The purchase consideration was not disclosed.
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