HORSEHEADS, N.Y. — Hardinge Inc. (NASDAQ: HDNG) today announced plans to acquire the assets of the Voumard internal diameter (ID) grinding business from Rendsburg, Germany–based Peter Wolters GmbH.
Hardinge, a Horseheads–based provider of advanced metal-cutting tools and accessories, made the announcement in a Tuesday news release. No financial terms were disclosed.
Peter Wolters is a supplier of precision machine tools and systems, according to the company’s website.
(Sponsored)
Assessing the Likely Tax Impacts of the 2024 Election
President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax front. A projected unified
Unique Ways to Save Money As You Upgrade Your Business Technology
It’s no secret that innovating is the key to business growth and prosperity. To stay competitive, businesses must continually seek new technologies to enhance productivity. However, the issue of cost
Hardinge intends to add the Voumard products to its grinding brands, which also include Kellenberger; Hauser; Jones & Shipman; Tschudin; and Usach, Rick Simons, chairman, president and CEO of Hardinge, said in the news release.
“We plan on moving Voumard’s production and support back to its roots in Switzerland, where we will integrate it into the company’s existing Kellenberger business. We expect to be quoting machines by the end of this year and be in a position for initial sales to be generated in late 2015,” said Simons.
The Hardinge grinding group’s Voumard ID offerings will “complement” the firm’s current product lines, resulting in a “complete spectrum” of internal and external diameter cylindrical-grinding services to provide customers, he added.
Founded in Neuchatel, Switzerland nearly 70 years ago, Voumard serviced the ID grinding market with an installed base of over 9,000 machine options, according to the Hardinge news release.
The firm eventually moved to Germany in 2010 after Peter Wolters acquired the business in 2005.
Voumard serves more than 2,500 customers around the world, according to Hardinge.
Contact Reinhardt at ereinhardt@cnybj.com
