Gleason to Acquire IMS Koepfer Cutting Tools

Gleason (Rochester, N.Y.) has signed an agreement to acquire IMS Koepfer Cutting Tools of Eisenbach, Germany, from IMS Gear and Koepfer Verzahnungsmaschinen. The company will be renamed Gleason Cutting Tools, and its approximately 70 employees will continue to operate at the current location under existing management. The acquisition includes the Eisenbach operation as well as a small subsidiary in Taicang, China. The deal was expected to close by the end of 2013.