Gloucester Engineering Announces Acquisition of Pearl Technologies Inc.
Pearl’s technologies complement those of GEC and ensure the combined company will continue to build innovative systems and provide superior aftermarket support for GEC’s significant global installed base, estimated to consist of more than $2 billion in operating assets.
Mark Steele, CEO of Gloucester Engineering says, "We are excited to have Bob Tewksbury and the entire Pearl team join Gloucester. Over the past 27 years, Pearl has produced innovative and successful products that simultaneously improve performance and reduce maintenance costs of converting and extrusion capital equipment. Pearl has consistently led with technically superior products and provided excellent service through its focus on design, engineering, customer service and product quality. Pearl’s products accelerate our growth in attractive aftermarket segments and extends GEC’s product reach further into converting, all of which will result in a more expansive product offering and improved customer service. GEC is focused on innovation and product leadership and will continue to target companies, like Pearl, that have strong positions in attractive segments of the market. Customers that want to enhance their business through innovation will look to Gloucester Engineering and Pearl as important partners that can provide them with higher yields, lower costs, increased revenue, and greater profit."
Gloucester Engineering Co. Inc.
(978) 281-1800; www.gloucesterengineering.com