Gleason Corp., Rochester, N.Y., announced the signing of a definitive agreement to acquire IMS KOEPFER Cutting Tools GmbH from Eisenbach, Germany's IMS Gear GmbH and KOEPFER Verzahnungsmaschinen GmbH of Furtwangen. IMS KOEPFER Cutting Tools is a producer of gear-cutting tools and related products and services. The company will be renamed Gleason Cutting Tools GmbH and continue to operate with its existing management team at its current location in Eisenbach. IMS KOEPFER Cutting Tools' subsidiary in Taicang, China, is included in the acquisition. The transaction is subject to merger control clearance in Germany, and is expected to be completed by the end of 2013.
Related Glossary Terms
- clearance
clearance
Space provided behind a tool’s land or relief to prevent rubbing and subsequent premature deterioration of the tool. See land; relief.
INDUSTRY NEWS
