ELMIRA, N.Y. — Hardinge Inc. (Nasdaq:HDNG), a leading international provider of advanced metal-cutting solutions and accessories, announced Tuesday that it has entered into an agreement to acquire the assets of the Voumard Internal Diameter (ID) Grinding Business from Peter Wolters GmbH in Rendsburg, Germany.
Voumard, founded in Neuchatel, Switzerland nearly 70 years ago, has been a global leader in the ID grinding market with an installed base of over 9,000 machine solutions serving more than 2,500 customers around the world. Acquired by Peter Wolters in 2005, it was subsequently moved to Germany in 2010.
Rick Simons, Chairman, President and Chief Executive Officer of Hardinge Inc., commented, "We are very excited to add the Voumard products to our already strong line-up of grinding brands which includes Kellenberger, Hauser, Jones & Shipman, Tschudin and Usach. 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."
"The Voumard ID offerings by our Hardinge Grinding Group are a complement to our current product lines, resulting in a complete spectrum of internal and external diameter cylindrical grinding solutions to provide our customers. By incorporating it into our existing grinding businesses, Voumard customers can anticipate the same superior quality and technical support they have seen from our Kellenberger operations. This investment continues the Company's strategy of growing through new product development and targeted acquisitions," Mr. Simons concluded.
Hardinge is a leading global designer and manufacturer of high precision, computer-controlled machine tool solutions developed for critical, hard to machine metal parts and of technologically advanced workholding accessories.
Learn more at Hardinge's website at www.hardingeus.com.