Press Release
FOR IMMEDIATE RELEASE
State of the Art 5-Axis Machine Tool Builder
Bought By Chinese Group
April 12, 2005 Denkendorf, Germany Dalian
Machine Tool Group, China’s largest machine tool company, recently purchased the
majority of Zimmermann AG, a leading German machine tool producer, reports the
China Daily.
Dalian purchased 70% of the German firm. Terms of the
transaction were not disclosed.
Zimmermann builds 5-axis CNC milling machines, including the Bokö Line of 5 and 6 axis machines serving mainly commercial aircraft frame
manufacturers such as Boeing and Airbus, aircraft engine manufacturers Pratt &
Whitney and Rolls Royce and automakers such as BMW and Volkswagen. The machine
tool manufacturer also already reports a strong position in China supplying
those same market segments.
A spokesman for the Dalian Group explains that Zimmermann
technology will be used to fill-in its machine tool lines in China with advanced
state of the art 5 and 6 axis machines. Zimmermann will also be used as a new
platform for European sales. At present, it as largest markets are the U.S. and
China.
This purchase advances Dalian’s globalization strategy.
Previously, the Group had bought Ingersoll Milling Machine Company out of
Rockford, Illinois and CM Systems LLC.
Zimmermann currently employs about 150, with annual sales of
approximately $35 million. Dalian has more than 6,000 employees and last year
posted sales of $711million.
For More Information Contact:
Bokö Services Group, Inc
8217 W 20th Street, Greeley, CO 80634
Tel: 970-313-4175
FAX: 970-313-4161
Internet: info@boko.com
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Last modified:
09/13/2006
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