FEIN acquires Jancy Engineering Inc
Mar 1, 2011 12:00 PM
FEIN, headquartered in southwestern Germany, is acquiring Jancy Engineering Inc, boosting its position in the North American metal market. Jancy Engineering will remain under its current management after the acquisition. Timothy Flaherty, chief executive officer, will manage operations.
With this acquisition, FEIN is expanding its capabilities in metal core drilling applications. Jancy Engineering of Davenport IA is recognized as a key player in the development and production of HSS annular cutters and magnetic drills (marketed under the Slugger brand) as well as other specialty products for metalworking.
FEIN anticipates close collaboration in R&D as well as synergies in production and procurement. Adding value-creation functions in the United States will help FEIN counteract some of the currency risk associated with exporting.
Jancy Engineering's main product lines are annular cutters and magnetic drills. Metal-cutting circular saws and beveling machines for weld prep work are additional product lines. Jancy's locations will remain unchanged, and all employees will be retained.
FEIN has been represented in the United States by its subsidiary FEIN Power Tools Inc of Pittsburgh PA since 1978 and in Canada by FEIN Canadian Power Tool Co in Ontario for 50 years.
