Comer Industries to acquire a 70% stake in Nabtesco Corporation's Hydraulic Equipment business from Nabtesco Corporation.

Comer Industries, a global leader in the design and production of advanced engineering systems and mechatronic solutions for power transmission, agreed to acquire a 70% stake in Nabtesco Corporation's Hydraulic Equipment business, is a leading hydraulic equipment manufacturer, from Nabtesco Corporation, a Japanese engineering company specializing in motion control technology. Financial terms are not disclosed. “This acquisition testifies Comer Industries relentless commitment to expand synergically its product portfolio, offering best-in-class technologies to our customers. The transaction will strengthen Comer Industries strategic positioning leveraging on improved technology and product mix to capture new market opportunities thus creating value for all our stakeholders,” Matteo Storchi, Comer Industries President and CEO.