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to acquisition pursuit

Gleason Corp. returns
to acquisition pursuit

Gleason Corp. today said it has reached an agreement with Hermann Pfauter GmbH & Co. to acquire all Pfauter Group operations.
Terms of the deal were not disclosed.
The acquisition–Gleason’s second purchase of a German cylindrical-gear firm in little more than a year–will nearly double its revenues and work force.
The move also will widen Gleason’s share of the cylindrical-gear market. The company in July 1995 bought Hurth Maschinen und Werkzeuge GmbH, a German manufacturer of cylindrical gear finishing machines.
Cylindrical, or parallel-axis, gears transmit power in a straight line. One of their most notable applications is in the drive trains of lightweight, front-wheel-drive vehicles.
Gleason is a relative newcomer to the cylindrical-gear market.
Until its 1993 introduction of the Phoenix gear-hobbing machine, its main expertise was as a maker of bevel-gear cutting machines.
Bevel gears transmit power at an angle, and are used in drive trains of rear-wheel drive vehicles.
The Pfauter purchase fits with Chairman and CEO James Gleason’s stated intention of expanding the company’s reach in the parallel-axis market.
Until last year, 60 percent of Gleason’s cylindrical gear-equipment sales were in the United States, so the new German acquisition also fits with the company’s goal of widening its presence in the world cylindrical gear market.
Headquartered in Ludwigsburg, Germany, Pfauter is a leading manufacturer of cylindrical-gear equipment with operations in Germany, Italy and the United States. Combined sales for Pfauter operations were approximately $175 million in 1995. The company employs some 1,050 workers worldwide.
Rochester-based Gleason makes gear-cutting machines, and employs 1,455 at operations here and in England and Germany. In 1995, it reported sales of $197 million.
Gleason said the Pfauter purchase should be completed by the end of this year.

Gleason Corp. returns
to acquisition pursuit

Gleason Corp. today said it has reached an agreement with Hermann Pfauter GmbH & Co. to acquire all Pfauter Group operations.
Terms of the deal were not disclosed.
The acquisition–Gleason’s second purchase of a German cylindrical-gear firm in little more than a year–will nearly double its revenues and work force.

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