Gleason Completes Acquisition of Faessler Honing Business from Daetwyler Group in an Asset Deal

Gleason Corporation announced the completion of its acquisition of the assets of Daetwyler Industries AG’s and MDC Max Daetwyler AG’s Faessler gear honing business.

The gear honing machine, workholding and tooling business operations of Daetwyler’s Faessler division for the high-precision hard finishing of gears have been acquired by Gleason’s subsidiary, Gleason Switzerland AG by way of an asset deal.

Faessler’s management team and employees have agreed to join Gleason.

Gleason previously announced the execution of a definitive agreement to acquire all assets and certain contractual relationships of Daetwyler’s gear honing business on February 26, 2019.

www.gleason.com

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