Cone Drive announce acquisition of Chinese based H-Fang
Cone Drive Group, a world leader in precision motion control technologies, is proud to announce the acquisition of China based precision slewing drive manufacturer Jiangyin Huafang New Energy Hi-Tech Equipment Co., Ltd (H-Fang).
H-Fang is a leading precision slewing drive and precision slewing bearing manufacturer located in Jiangyin City, Jiangsu Province, China. H-Fang’s highly engineered solutions include precision slewing drives, precision slewing bearings and related components, which are applied in a wide range of precision motion control and industrial markets including solar tracking systems, construction vehicles, mobile cranes, aerial lifts and port machinery.
Kurt Gamelin, Cone Drive Chief Executive Officer, said: “The addition of H-Fang to the Cone Drive business furthers our globalization strategy and expands our precision motion control product portfolio, both key elements of Cone Drive’s longer term growth strategy. Having operational excellence in both North America and China allows us to support and expand our customer base in both regions.”
Carter Wu, H-Fang Managing Director, said: “H-Fang is delighted to partner with Cone Drive and grow the overall business. H-Fang’s precision slewing drive and precision slewing bearing solutions, coupled with Cone Drive’s extensive range of motion control product solutions that include unique double enveloping worm gearing, servo, harmonic and cycloidal drives, creates an exceptionally strong value proposition for our customers. We look forward to further developing the solar, precision motion control and industrial markets throughout the world.”
H-Fang represents a very strong strategic fit with Cone Drive from a product, market, and geographic perspective. The partnership between Cone Drive and H-Fang is the result of a joint desire to leverage the combined strengths in design, manufacturing, and reputations for excellence. H-Fang’s product portfolio provides complementary product offerings to Cone Drive’s portfolio. In addition to expanding coverage in North America and Asia, the integration of Cone Drive and H-Fang will position both to enter the global market with an extended product portfolio at competitive price levels.