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Business Merger Announcement: Sumitomo Machinery Corporation of America and Hansen Industrial Transmissions Inc.

July 31, 2013
Chesapeake, VA
USA



Sumitomo Machinery Corporation of America (SMA), headquartered in Chesapeake, Virginia, announced today that the company has entered into a definitive merger agreement with Hansen Industrial Transmissions Inc. (HNA), a leading provider of large size industrial gear drives, effective August 5, 2013.

Hansen Industrial Transmissions, NV was acquired by Sumitomo Heavy Industries, Ltd. in 2011.

This merger further strengthens our already dominant position in the power transmission market by combining the vast experience of our employees as well as the comprehensive product portfolios of both companies.

Ronald J. Smith, President and Chief Executive Officer of SMA, will continue to lead the management team to complete the integration of the companies in 2013, while ensuring that our customers continue to receive the high quality products and services they have come to expect from both SMA and HNA. Mr. Smith said, "This merger has to benefit all of our stakeholders, customers, employees, and shareholders. We must not lose sight of the fact that our customers are the most important stakeholder. If we fail to deliver the benefits of our merger to them, success will not be realized."

The merged companies will operate as Sumitomo Machinery Corporation of America (SMA) and the HNA facility located in Verona, Virginia will continue operations as a regional assembly and service center, joining the expansive network of SMA regional facilities located throughout North and South America.


Strength in One

Strength in One: Three companies, one global provider - Sumitomo Drive TechnologiesThis integration is part of our overall strategy to strengthen our brand portfolio, creating one of the most important groups of industrial drive providers in the world. We believe that, together, our companies offer the highest standards of quality, innovation and products with confidence. Learn more about Strength in One here.


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