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Hardinge sells assets, but Horseheads facility to remain open with new name. What we know.

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Hardinge sells assets, but Horseheads facility to remain open with new name. What we know.

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Hardinge Inc., a Horseheads-based provider of advanced machine tool, manufacturing, and workholding solutions, has announced it successfully completed transactions to sell substantially all of the company’s global machine and workholding businesses to affiliates of Centre Lane Partners.

The local facility, which employs about 200 workers, will remain open under a new name as part of the deal. The news comes on the heels of the potential closure of one division and threatened layoffs that Hardinge managed to avoid.

Through the completion of the transactions, the global machine businesses and workholding businesses, respectively known as Kellenberger and Forkardt Hardinge, will move forward as separate entities under Centre Lane’s ownership, according to a company news release.

Workholding devices, such as those manufactured in Horseheads, are used to locate, support, and secure workpieces for a variety of manufacturing operations, including machining, welding, and assembly.

In addition to preserving existing jobs, the move could also mean additional jobs at the local facility.

“I know there’s been a lot of media coverage about the changes at Hardinge but I’m happy to confirm that Forkardt Hardinge still employs over 200 manufacturing jobs here in Chemung County and over 315 jobs globally,” Forkardt Hardinge CEO Ryan Ervin said.

“To support our growth initiatives, we are actively recruiting many positions that include machinists, buyers, customer service, manufacturing engineers, design engineers, operation managers, as well as inside and outside sales,” he added.

Over the summer, Hardinge filed a WARN (Worker Adjustment and Retraining Notification) notice with the state Labor Department, confirming it planned to close its Super-Precision Division and lay off all 31 employees of that unit.

In late August, the company rescinded the WARN notice, indicating it had secured funding to keep the division operating and its workers employed.

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Centre Lane Partners, founded in 2007 and headquartered in New York City, is a private investment firm that invests in the equity and debt of middle market companies in North America.

As part of the agreement with Centre Lane Partners, former Hardinge CEO Greg Knight will head up the Kellenberger operation.

“We are very pleased to complete these transactions with Centre Lane, which position Kellenberger and Forkardt Hardinge for sustainable growth,” Knight said.

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