Cone Drive Acquires Chinese Slewing Drive Manufacturer
Cone Drive Operations Inc.has acquired Chinese slewing drive manufacturer Jiangyin Huafang New Energy Hi-Tech Equipment Co., Ltd. (H-Fang).
H-Fang is a leading slewing drive and slewing bearing manufacturer located in Jiangyin City, Jiangsu Province, China. H-Fang’s engineered solutions include slewing drives, slewing bearings, and related components, which are applied in a wide range of motion control and industrial markets including solar tracking systems, construction vehicles, mobile cranes, aerial lifts, and port machinery.
Kurt Gamelin, Cone Drive CEO, said, “The addition of H-Fang to the Cone Drive business furthers our globalization strategy and expands our product portfolio, both key elements of Cone Drive’s longer-term growth strategy. Having operational excellence in both North America and China allows us to support and expand our customer base in both regions.”
Carter Wu, H-Fang Managing Director, said, “H-Fang is delighted to partner with Cone Drive and grow the overall business. H-Fang’s slewing drive and slewing bearing solutions, coupled with Cone Drive’s double enveloping worm gear expertise, creates a strong value proposition for our customers. We look forward to further developing the solar, motion control, and industrial markets throughout the world.”
In addition to expanding coverage in North America and Asia, the integration of Cone Drive and H-Fang will position both to enter the global market with an extended product portfolio at competitive price levels, according to Cone Drive's press release.
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