Press Release

 

Power Automation acquires CNC business from Giddings & Lewis

 

Effective Sept. 1st, 2000, PA Power Automation AG has acquired from Giddings & Lewis in Fond du Lac, Wisconsin, USA, the “MachineMate” Soft CNC Business. As the “MachineMate” CNC Product is based on PA technology, this is only a logical step. The scope of the agreement encompasses the transfer of the entire customer base in USA and Asia, the sales staff for “MachineMate” as well as the brand label “MachineMate”.

 

As a base, a wholly owned PA subsidiary “MachineMate Inc.” has been established in Fond du Lac, Wisconsin, USA, with nominal assets of $500,000 US dollars. With this move, PA underscores the importance of the US market and proves its eagerness to realize the projected sales volume.

 

MachineMate Inc. will have an exhibit at this year’s IMTS in Chicago from Sept. 6th to Sept. 13th, the most important machine tool show in the Americas.

 

This is an important milestone in the global sales strategy of PA Power Automation AG – more are to follow.

 

Bernhard Hilpert

Chairman of the Board

Power Automation AG

 

 

 

 

PA Power Automation AG – Gottlieb-Daimler-Str. 17 – 74385 Pleidelsheim – Germany

 

Homepage:  http://www.powerautomation.com - E-Mail:  hilpert@powerautomation.com

 

 

 

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