South Bend-based Schafer Industries has announced the acquisition of Illinois-based Custom Gear and Machine Inc. Financial details of the deal were not disclosed, however the acquisition does include Custom Gear and Machine’s 50,000 square-foot manufacturing plant in Roscoe, Illinois.
Schafer’s subsidiary Schafer Gear Works Rockford LLC, has a similar manufacturing plant in Rockford, Illinois. The company says that plant will be shut down by the end of August and all manufacturing and management functions will move to the Roscoe plant. Schafer says no jobs will be affected by the move.
"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," said Stan Blenke, executive vice president of Schafer. "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."
The Roscoe plant produces gears and machined products for various industries, including oil and gas, construction and agricultural, among others.