Gleason Corporation has announced that agreement has been reached on all terms to acquire for approximately $36 million in cash the Hermann Pfauter Group, including, among other operations, Hermann Pfauter GmbH & Co., a privately held leading producer of gear equipment based in Ludwigsburg, Germany; its 76% interest in Pfauter-Maad Cutting Tools, a leading cutting tool manufacturer basked in Loves Park, IL; and Pfauter-Maag management's 24% ownership interest in that company. The acquisition includes all assets and liabilities, including the assumption of approximately $56 million in bank debt.
Hoechst Technical Polymers has expanded its interests in plastic gears with the introduction of the new Plastic Gear Evaluation and Research machine P-Gear. The machine is the centerpiece of the company's continuing efforts to promote and develop the use of plastic gears in higher-powered applications.
In 1993, M & M Precision Systems was awarded a three-year, partial grant from the Advanced Technology Program of the Department of Commerce's National Institute of Standards and Technology (NIST). Working with Pennsylvania State University, M&M embarked on a technology development project to advance gear measurement capabilities to levels of accuracy never before achieved.