Lord Corporation Acquires BalaDyne Corporation

Apr 17, 2001, 01:00 ET from Lord Corporation

    CARY, N.C., April 17 /PRNewswire/ -- Lord Corporation has announced the
 purchase of BalaDyne Corporation, Ann Arbor, MI, for an undisclosed price.
 BalaDyne, a privately held corporation, is a global leader in active balancing
 systems for the machine tool industry.
     Dr. Charles J. Hora, Jr., President of Lord Corporation said, "This
 acquisition is part of our overall growth plan and provides us with a new
 strategic dimension for the Mechanical Division."
     Lord Corporation is a recognized leader in vibration isolation and
 control.  The BalaDyne purchase enhances Lord's technology to handle vibration
 by dealing with it at the source, thus eliminating its generation.  BalaDyne's
 active systems sense rotational out-of-balance and automatically make
 adjustments at any rotating speed to minimize vibration.
     Lord Vice President and General Manager Mechanical Products, Thomas J.
 Gibbons said, "This new technology will provide our customers with another
 approach to solve their vibration problems.  It has potential applications in
 nearly all of our markets.  We see expanded opportunities in machining and
 turning centers, fan balancing, turbo machinery for power generation,
 propellers and turbines for aerospace, and spin stands, dryers and wafer
 grinding for semiconductor processing.
     Lord will retain the BalaDyne trademark and it will continue under the
 leadership of Wayne Winzenz, the current BalaDyne president.
     Lord Corporation is a $441 MM privately held, diversified company that
 designs, formulates, manufactures and markets adhesives, polyurethane
 coatings, electronic adhesives and coatings; devices and systems to manage
 mechanical motion and control noise, and products and systems utilizing
 magnetically responsive fluid (MR) technology.  Lord has three major operating
 divisions: Chemical Products Division, Mechanical Products Division, and
 Materials Division.  The Corporation has plants in 7 states, has
 facilities/operations in 10 countries and employs over 2,200 worldwide.  World
 headquarters is in Cary, NC.
 
 

SOURCE Lord Corporation
    CARY, N.C., April 17 /PRNewswire/ -- Lord Corporation has announced the
 purchase of BalaDyne Corporation, Ann Arbor, MI, for an undisclosed price.
 BalaDyne, a privately held corporation, is a global leader in active balancing
 systems for the machine tool industry.
     Dr. Charles J. Hora, Jr., President of Lord Corporation said, "This
 acquisition is part of our overall growth plan and provides us with a new
 strategic dimension for the Mechanical Division."
     Lord Corporation is a recognized leader in vibration isolation and
 control.  The BalaDyne purchase enhances Lord's technology to handle vibration
 by dealing with it at the source, thus eliminating its generation.  BalaDyne's
 active systems sense rotational out-of-balance and automatically make
 adjustments at any rotating speed to minimize vibration.
     Lord Vice President and General Manager Mechanical Products, Thomas J.
 Gibbons said, "This new technology will provide our customers with another
 approach to solve their vibration problems.  It has potential applications in
 nearly all of our markets.  We see expanded opportunities in machining and
 turning centers, fan balancing, turbo machinery for power generation,
 propellers and turbines for aerospace, and spin stands, dryers and wafer
 grinding for semiconductor processing.
     Lord will retain the BalaDyne trademark and it will continue under the
 leadership of Wayne Winzenz, the current BalaDyne president.
     Lord Corporation is a $441 MM privately held, diversified company that
 designs, formulates, manufactures and markets adhesives, polyurethane
 coatings, electronic adhesives and coatings; devices and systems to manage
 mechanical motion and control noise, and products and systems utilizing
 magnetically responsive fluid (MR) technology.  Lord has three major operating
 divisions: Chemical Products Division, Mechanical Products Division, and
 Materials Division.  The Corporation has plants in 7 states, has
 facilities/operations in 10 countries and employs over 2,200 worldwide.  World
 headquarters is in Cary, NC.
 
 SOURCE  Lord Corporation