Lovejoy, Inc. Announces Significant European Expansion

17.09.2003

Lovejoy, Inc., the leader in industrial coupling design, development and precision engineering, announces a significant international expansion into the hydraulic component market as the result of a joint venture entered into with Rahmer & Jansen GmbH in Werdohl, Germany.

Rahmer & Jansen concentrates 95% of its business in hydraulic components and is the second largest supplier of flexible shaft couplings to this market.

This joint venture will operate under the title of Raja-Lovejoy GmbH. The company will continue to produce and sell hydraulic components and flexible shaft couplings such as Spidex® and Dentex® ¾ brand names that have built a well-known reputation in Europe. Lovejoy Europe, a primary supplier of quality power transmission parts, will still service the European market as well, moving its home base to Germany for a more centrally located customer service and warehousing facility.

Both Lovejoy and Rahmer & Jensen have built sterling reputations in the industry for their precision engineering and manufacturing techniques. With Raja-Lovejoy, existing and potential customers can draw upon Lovejoy’s unique breadth of product which includes more than 20,000 styles of couplings, and Rahmer & Jansen’s extensive sales and distribution networks. The partnership between two industrial leaders in power transmission and hydraulic components, respectively, creates added value for customers through complementary product lines, worldwide customer service and technical organizations, and a combined synergistic vision.

The Raja-Lovejoy joint venture is just one of a series of strategic corporate partnerships, acquisitions, and business agreements designed to enable Lovejoy, Inc. to continue its long-term growth and development in the global marketplace.

“This is exciting news for Lovejoy customers worldwide,” says Michael Hennessy, CEO of Lovejoy, Inc., “This marks the sixth partnership agreement or corporate expansion concluded this year. Taken together, these agreements send a clear signal that the company is growing, and that we are serious about becoming the dominant company in power transmission products.”

“Our customers are building and operating manufacturing and processing facilities in Europe, South America and Asia. They can turn to Lovejoy, Inc., and know they are dealing with a company seriously committed to providing global service and the highest quality, most reliable couplings and now hydraulic components, to serve their needs.”

Raja-Lovejoy GmbH will continue operations from the present location in Werdohl, Germany, of Rahmer & Jansen GmbH. Bodo Jansen, CEO of Rahmer & Jansen, and his son, Jens Jansen, will remain associated with the new operations.

Founded in 1900, Lovejoy enjoys an international reputation as the leading company specializing in flexible coupling design and development. Lovejoy products are available worldwide through distributors in North America and 45 other countries, supported by Lovejoy offices and support staff in Canada, Europe and the USA. Lovejoy, Inc., is certified under the ISO-9001:2000 International Standards for Quality Management.

For more information, visit the Raja-Lovejoy website at Raja-Lovejoy

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