Schafer Industries, Inc., through its wholly owned subsidiary, Schafer Gear Works Rockford, LLC, acquired the assets and business of Custom Gear and Machine, Inc. The acquisition was announced jointly by Bipin Doshi, president of Schafer Industries, and Stan Blenke, the company's executive vice president. The manufacturing facility includes a 50,000 square foot plant in Roscoe, Ill. producing gears and machined products for a variety of industries, including oil and gas, construction, mining, agricultural, power transmission and defense. Schafer owns and operates a similar facility in Rockford, Ill. The Rockford facility will be shut down by the end of August 2016 and all manufacturing and management functions will move under a single roof in Roscoe. According to Blenke, the purchase of Custom Gear and Machine, Inc. was an opportunity that aligned with Schafer's strategic objectives and its product mix to secure a stronger market position in all market segments served by the two companies. "For over 80 years, Schafer has been involved in providing gears nationally and internationally for many applications and customers. This acquisition, along with the combination of manufacturing and management functions, creates additional capacity and engineering capabilities to serve our existing customers as well as attract new customers," Blenke stated. He went on to say that "combining our two engineering departments creates a stronger team to address complex issues in process development. It also enhances our ability to solve customer issues around reducing manufacturing costs and provides a best value option for their needs." Blenke also highlighted the unprecedented speed of the transaction process. Both Rockford and Roscoe facilities serve similar markets and customers, and process familiarity and the close proximity of the plants made for a smooth acquisition process. These two facilities and teams will meet the challenging demands facing the gear industry, and they will work together to satisfy the needs of both customers and suppliers. The management teams at both facilities are excited about joining forces to become a strong player in the market. Ed Brandt, operations manager of the Rockford plant, will assume the same position at the combined facility. "Ed Brandt has been highly effective in his role as manager of the Rockford facility particularly under demanding circumstances of several depressed market segments," said Doshi. "He and his team have been successful in cost reduction, inventory management and maintaining high performance with 100 percent on-time deliveries of product with exceptional quality." Schafer Industries, Inc. Address: 4701 Nimtz Parkway South Bend, IN 46628-615 Phone: (574) 234-4116 Fax: (574) 234-4115 URL: www.schaferindustries.com