HARDINGE INC. TO ACQUIRE J.G. WEISSER GmbH & CO

BERWYN, Pa. and ST. GEORGEN, Germany, July 20, 2021 /PRNewswire/ -- Hardinge Inc. ("Hardinge") and J.G Weisser GmbH & Co. KG ("Weisser"), have entered into a definitive agreement under which Hardinge will acquire Weisser, enhancing Hardinge's Turning and Milling platform with an attractive portfolio of products and technologies.

Weisser is a world leading German manufacturer and turnkey solution provider of high precision, multifunctional turning machines and turning centers as well as automation solutions.  Weisser is based in Germany with sales of approximately $90 million USD. More information on the company is available at weisser-web.com.

"Weisser is recognized for its market leading innovations and machine designs, complementing our expanding portfolio of premium, high precision machine tools. The business is well-positioned in many industry applications and complements the Hardinge total solution concept," said Ryan Levenson, Hardinge CEO. "We believe there are exciting opportunities to leverage collaboration within our global sales and service network and our existing turning and milling brands. The integration of the Weisser brand and products into the Hardinge Group, especially in industries and geographies where Hardinge is well-established, will further accelerate Weisser's growth. This transaction will bring together two complementary businesses, accelerate the Hardinge growth strategy and increase our core capabilities in highly attractive segments.  We are excited to welcome the Weisser team into the Hardinge family."

"The new partnership with Hardinge opens highly attractive growth potential for Weisser," adds Frank Hornberger, CEO of Weisser. "This gives us great potential to immediately expand into additional markets. The combined product portfolio has the same technological DNA and our similar histories of driving high precision standards will lead to a further expansion of our already strong market position."

About Hardinge Inc.
Hardinge, Inc. is the trusted global provider of high precision, computer-controlled machine tool solutions for critical, hard-to-machine metal parts and advanced workholding accessories. With over 125 years of experience, Hardinge offers the largest variety of metal-cutting turning machines, grinding machines, machining centers, collets, chucks, index fixtures, repair parts, standard and specialty workholding devices, and other machine tool accessories. Hardinge's solutions can be found in a broad base of industries including aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology, and transportation. The company designs, manufactures, and distributes machine tools in over 65 countries across North America, Europe, and Asia. For more information about Hardinge, please visit us at www.hardinge.com.

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SOURCE Hardinge Inc.