Home » Gleason to Acquire IMS Koepfer Cutting Tools GmbH
Gleason to Acquire IMS Koepfer Cutting Tools GmbH
December 2, 2013
Gleason Corporation has announced the signing of a definitive agreement to acquire IMS Koepfer Cutting Tools GmbH of Eisenbach, Germany from IMS Gear GmbH and Koepfer Verzahnungsmaschinen GmbH. IMS Koepfer Cutting Tools is a producer of high-quality gear cutting tools and related products and services. The company which has approximately 70 employees will be renamed Gleason Cutting Tools GmbH and continue to operate at its current location in Eisenbach, Germany, with its existing management team. IMS Koepfer Cutting Tools has a small subsidiary in Taicang, China which is included in the acquisition. The transaction is subject to merger control clearance in Germany. It is expected to be completed by year-end.
Commenting on the acquisition, John J. Perrotti, president and chief executive officer of Gleason Corporation, said, “IMS Koepfer Cutting Tools is recognized as a leader in technology, quality and delivery lead times for gear cutting tools. Their established presence in the European market and strength in the design and manufacture of carbide hobs provides us great opportunities to expand our product reach to both local and global customers in industries including medical, power tools, automotive and gear job shops. We will use our extensive global sales and marketing organization to further expand sales for their products”.
Dieter Lebzelter, managing director of IMS Gear, said, “On behalf of both IMS Gear and Koepfer Verzahnungsmaschinen GmbH we are pleased to have a company such as Gleason with its long tradition in the gear production equipment market become the new owner of this business. The IMS Koepfer management team and employees have done an excellent job in developing the business and we are confident will continue to do so in the future. Gleason is a company which has similar core values as ours and will provide a smooth and successful transition for our employees.”