EAST AURORA, N.Y. — Moog Inc. has purchased the radial piston pump business from Robert Bosch GmbH — pumps that are used with Moog's servo valves on injection molding machines.
Moog paid $6.5 million for the Bosch pump product line, which generates annual sales of about $20 million. Moog will assume pension liabilities of $1.6 million and will continue to run the Bosch factory in Nuremberg, Germany.
East Aurora-based Moog announced the Bosch pump acquisition in November. Earlier in 2000, Moog bought the Vickers Electrics Division of Aeroquip-Vickers SpA, a plant that makes electric drives in Italy.
The pump acquisition complements Moog's strategy of supplying customized sub-systems to major injection press manufacturers.
Actions by European Commission antitrust regulators paved the way for Moog to pick up the Bosch pump line — a move that was indirectly tied in with ownership issues of Atecs, a huge engineering, automotive and machinery company that includes Mannesmann Plastics Machinery AG, the world's biggest plastics equipment maker.
Early last year, Bosch and Siemens AG said they would buy Atecs jointly. Later, the two German giants decided to split ownership of Atecs, with Bosch taking Rexroth AG, a major maker of axial piston pumps and valves, and Siemens taking the rest. On Dec. 13, the EC approved Bosch's purchase of Rexroth, on the condition that Bosch sells its radial piston pump business to Moog.
The EC's investigation showed a Bosch/Rexroth combination would dominate the market for hydraulic piston pumps. Bosch agreed to sell its pump business.