Timken Acquires H-Fang and Cone Drive
H-Fang is pleased to share some exciting news with you. The Timken Company has announced their intention to purchase Cone Drive in its entirety. The acquisition will also include Cone Drive’s H-Fang subsidiary, located in Jiangyin, China. The acquisition is expected to be finalized in August, 2018, pending regulatory approvals.
Cone Drive and H-fang have been producers of world class precision motion control, power transmission, and slewing products for many years. The acquisition by Timken will further enhance H-Fang and Cone Drive’s growth strategy, as well as benefit us in the areas of product development, operational excellence, and globalization of the business.
Cone Drive will continue to serve their customers through our regional commercial teams, and from the current Traverse City and Ludington, Michigan facilities, as well as H-Fang in China.
This is an exciting transition for H-Fang and Cone Drive, and one that will benefit our customers, suppliers, employees, and stakeholders. We will provide further updates as the information becomes available.