Osaka, Japan – Tsubakimoto Chain Co. (Tsubaki), a manufacturer and developer of power transmission products, will acquire Cleveland-based Mayfran International and affiliated subsidiaries, together forming the world’s largest firm in its market segment.
Founded in Cleveland in 1933 as a general industrial engineering firm, Mayfran is a provider of engineered solutions for scrap and coolant management, and material handling systems, for metalworking, recycling, solid waste processing and other applications.
“The combination will further strengthen Mayfran’s development of its conveyor and coolant management business in Europe and North America, as well as expand its business in China, Brazil and other emerging markets,” said Isamu Osa, president and representative director of Tsubaki. “Further, Tsubaki can expect a powerful synergy effect among its related businesses, leading to the enhancement of its global competitiveness and future sustainable growth.
J.D. Sullivan, Jr., chairman of parent Mayfran Holdings, said, “Mayfran and Tsubaki know one another well. We have a similar business approach and complementary products with little overlap. As a result, customers will have access to a broader offering of product solutions and a broader product mix.”
The transaction brings together two organizations that have been partners in a joint venture, Tsubakimoto Mayfran, Inc., since 1973. Together, they formed a strategic alliance and built Mayfran’s conveyor and coolant management business in the Japanese domestic market.
The acquisition will not affect current operations or employment. Mayfran has manufacturing facilities and sales offices in the United States, Europe and Asia. Most of its US employees work at its corporate headquarters and manufacturing operation in the Cleveland suburb of Mayfield Village. Its European headquarters are in Landgraaf, Netherlands.
The companies have signed a share purchase agreement, and the transaction is expected to close in late August 2012.
About Tsubakimoto Chain Co.
Tsubakimoto Chain Co. has strong market positions in premium-quality chains (ANSI (RS) & (BS) British standard roller chain, engineering chain, conveyor chain, motorcycle chain, various special application chains), power transmission units and components (including reducers, linear actuators, clutches), and automotive timing chain drive systems used to drive camshafts in auto engines. It also supplies steel and plastic cable carriers (Cableveyors) to global customers together with Tsubaki Kabelschlepp GmbH. Tsubakimoto Chain is also a leader in the development and production of factory automation systems, physical distribution systems, and electronic control devices. Tsubakimoto Chain operates factories worldwide and its network of sales subsidiaries and affiliates markets its products in more than 70 nations.
About Mayfran International, Inc.
Mayfran International Inc. is a global leader in providing engineered solutions for scrap and coolant management and material handling systems for metalworking, recycling, solid waste processing and other applications. Mayfran’s products convey, filter, separate, shred, briquette and process materials and fluids for the automotive, aerospace, consumer products, oil and gas, steel processing, solid waste, pulp and paper, medical products, heavy equipment and related industries. Mayfran’s engineered solutions promote sustainable manufacturing processes, reducing costs while improving overall profitability and competitiveness. Mayfran is headquartered in Cleveland, OH, and has additional operations in Canada, China, the Czech Republic, France, Germany, India, Italy, Japan, the Netherlands, South Korea and the United Kingdom.