Holding company of Fadal and Giddings & Lewis sold

The company that purchased the Cincinnati Lamb Group earlier this year is buying the ThyssenKrupp MetalCutting group of companies.

Maxcor Inc., New York, the holding company that purchased the Cincinnati Lamb Group earlier this year is buying the ThyssenKrupp MetalCutting group of companies. That group includes such machine tool companies as Fadal, Giddings & Lewis, and Cross Huller. A purchase price was not released. Thyssen Technologies says it sold the MetalCutting group to concentrate on its Plant Technology, Marine Systems, and Mechanical Engineering units. The sale is still subject to approval by ThyssenKrupp AG supervisory board and regulatory authorities. Maxcor, in partnership with Silver Point Finance, bought Cincinnati Lamb in April from Unova for approximately $60 million. Visit maxcorinc.com or thyssenkrupp.com for more information.

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