Tsubaki to acquire the Mayfran Group
Tsubakimoto Chain Co., a manufacturer and developer of power transmission products in Osaka, Japan, has announced it will acquire Cleveland-based Mayfran Intl. and affiliated subsidiaries. Mayfran provides systems for scrap and coolant management and material handling, used in metalworking, recycling, and solid waste processing.
The transaction brings together two organizations that have been partners in a joint venture, Tsubakimoto Mayfran Inc., since 1973. Together, they formed a strategic alliance and built Mayfran's conveyor and coolant management business in the Japanese domestic market.
The acquisition will not affect current operations or employment. Mayfran has manufacturing facilities and sales offices in the U.S., Europe, and Asia. Most of its U.S. employees work at its corporate headquarters and manufacturing operation near Cleveland. Its European headquarters are in Landgraaf, Netherlands.