Oilgear Acquires Two Major Industrial Suppliers

(Milwaukee, Wisconsin; March 1, 2010) 

The Oilgear Company, a global leader in the design and manufacture of hydraulic components and systems, announced the acquisition of two major fluid power industrial solutions providers – Olmsted Products Co. and Clover Industries.

As previously announced, Olmsted Products, headquartered in Traverse City, Michigan, (www.olmstedproducts.com) specializes in the design and manufacture of specialty high-flow, high-pressure valves and electronic control systems for applications in offshore oil and gas, marine and industrial end-use markets. This highly-engineered product line fits well in Oilgear’s long-term growth strategy, and enables Oilgear to advance its position in the offshore oil and gas industry.

Clover Industries (www.cloverindustriesinc.com), located in Wausau, Wisconsin, is a leading manufacturer of custom, and complex, single stage and telescopic cylinders, piston accumulators and intensifiers for the oil and gas, military, industrial, construction and civil markets. Clover Industries’ strong engineering capabilities lead them in the development of superior-performing products, including their advanced coatings and materials. The acquisition of Clover Industries not only allows Oilgear to expand its current product line, but also allows Clover to gain access to new markets currently serviced by Oilgear.

“With these strategic acquisitions, Oilgear has clearly increased our presence as a premier industrial hydraulic supplier. The acquisition of these two companies will allow all of us to expand our product offerings to better serve our global customers in our core markets,” said Richard Armbrust, President and CEO of The Oilgear Company.

Since 1921, The Oilgear Company has been a leader in the global fluid power industry providing advanced technology in the design and production of unique fluid power components, systems and electronic controls. The company serves manufacturers in the mobile, industrial, civil, oil and gas, forging, extrusion, marine, aerospace, military and automotive industries.

For more information, please contact:

John Brossard

The Oilgear Company

Phone:  (414) 328-5316

E-mail:  jbrossard@oilgear.com

www.oilgear.com

November 30, 2009

FOR IMMEDIATE RELEASE

CLOVER INDUSTRIES WINS U.S. NAVY CONTRACTS

Wausau manufacturer Clover Industries Inc. has recently been awarded multiple contracts to produce parts and assemblies for the United States Navy. The components are part of the Navy’s Aircraft Launch and Recovery Equipment (ALRE) system, and will be placed into service on board the Navy’s aircraft carriers to aid in the launch and recovery of naval aircraft.

Earlier this year, Clover Industries’ quality system was approved by the Navy. The company has been approved to produce a variety of Critical Safety and Critical Application Items for the Navy. Parts include large cylinders, piston rods and components of a water brake system. Eight separate contracts have been awarded to Clover Industries totaling nearly $1.5 million.

Military contract work plays to the strengths of the company to produce large, high quality, highly detailed, precision machined equipment components. Clover is well-equipped for this work from an equipment and human resources perspective, with the Company’s 5-axis CNC mill turning centers and highly skilled engineers and machinists.

Work has begun on several of the components and is expected to continue through 2010. The company looks forward to continuing to produce parts for the Navy’s ALRE system, as well as for other branches of the U.S. Military.

For more information contact Clover Industries, at 715-843-5980.

December 15, 2008

FOR IMMEDIATE RELEASE

CLOVER INDUSTRIES TAKES DELIVERY OF NEW CNC MACHINE – FIRST OF ITS KIND IN U.S.

Clover Industries, Inc., a manufacturer of custom and complex hydraulic cylinders and cylinder systems took delivery today of a new Mori Seiki NT6600/4000.  The machine is a 5-axis CNC turning center and the first of its kind to be delivered in the United States.  The machine will allow Clover Industries to turn parts up to 42” in diameter and is specifically targeted for the work being performed by the Company for the oil & gas industry.

A team of engineers from Mori Seiki, headquartered in Japan, along with Mori Seiki engineers from the U.S. will install the new machine over the next two weeks.  The machine will be production-ready before the end of 2008.  The new machine will be used to target the large hydraulic cylinders, accumulators and other equipment produced for customers in the oil and gas industry.  In an effort to continue increasing capacity, Clover Industries will take possession of a similar machine, to be delivered by Mori Seiki in April 2009. 

This multi-million dollar investment in equipment, along with a move to the Company’s new facility at 7811 W. Stewart Avenue, will allow Clover Industries to increase capacity, shorten lead times and expand its product offering to customers.  The Company is scheduled to begin moving existing equipment to the new facility the week of January 10, 2009, and will move all staff employees the weekend of January 17th and 18th, with the move fully completed by mid-February. 

Clover Industries manufactures large hydraulic cylinders and integrated cylinder systems and equipment for the oil, gas and marine industry, mining industry, U.S. Defense industry and other industrial applications.  The Company is currently engaged in active research and development work for the U.S. Army.  Clover Industries operates out of its facility at 7555 W. Stewart Avenue, in the Wausau West Industrial Park, and its Deerbrook, WI facility.  The Company currently employs 102 people.

FOR IMMEDIATE RELEASE

August 25, 2008

CLOVER INDUSTRIES PURCHASES FORMER FISKARS SITE

Local manufacturer, Clover Industries, Inc. announces the acquisition of the property formerly occupied by Fiskars Brands, Inc. at 7811 W. Stewart Avenue in the Wausau West Industrial Park.  The acquisition of the property was finalized on August 25, 2008.

Clover has experienced significant growth over the past two years and has plans for continued growth with the addition of approximately 28 employees in the months ahead.  A third production shift is being added to alleviate recent capacity constraints.  The Company is in the process of filling a number of positions including the hiring of additional machinists, welders, general laborers, and engineers.  Investments in new manufacturing and material handling equipment are also being made in the months ahead, totaling in excess of $2.7 million. 

“The new production and staff facilities will allow us to continue our top-line growth as a Company, meet the customer demand for our product and expand our research and development activities”, Clover Industries President, Mike Priebe said Monday.  The company plans to dedicate one building on the property for a research and development center.

The company plans to occupy the 118,000 sq. ft. facility by the end of the year.  Prior to occupying the facility, the Company will undertake a renovation plan to install new material handling equipment, upgrade the electrical system in the production area, upgrade office furnishings renovate certain exterior features on the site, and install other new equipment such as new heating, ventilating and air conditioning system.  The Company’s existing 57,000 square foot facility located at 7555 W. Stewart Avenue is available for sale. 

Clover Industries manufactures large hydraulic cylinders and integrated cylinder systems for the oil, gas and marine industry, mining industry, U.S. Defense industry and other industrial applications.  The Company is currently engaged in active research and development work for the U.S. Army.

For Immediate Release

May 22, 2008

Clover Industries Inc. to Offer Gasoline Benefit to Employees

Effective May 26, 2008, Clover Industries, Inc. employees will receive a gasoline benefit designed to ease the negative impact of rising gasoline prices on disposable income. 

Announced today in a letter to employees, Clover’s president, Mike Priebe said, “I’m concerned about the financial impact the rising price of gasoline is having on all Clover workers and their families.  As a result, Clover will be implementing a new Company gas benefit program that will help address the rising price of gasoline.  Hopefully this new program will help ease some of the financial costs of commuting to and from work.” 

All full time employees will be eligible for reimbursement of approximately 35% of their gasoline costs based on applicable standards for the number of miles to and from their primary residence.  The creative benefit was designed to be attractive to existing employees as well as new potential employees.  All new full time employees will be eligible for the benefit. 

Clover Industries, Inc. is a Wausau-based manufacturer specializing in custom designed cylinder systems for various applications in industries ranging from the military to the oil and gas industry. 

For more information please contact Clover’s Human Resources Manager, Mary Hartwig-Barkow at 715-843-5980, extension 123.

FOR IMMEDIATE RELEASE
Thursday, September 28, 2006

DEFENSE BILL INCLUDES $3.8 Million for development of clover Industries products for the U.S. Army

WASHINGTON, D.C. – U.S. Senator Herb Kohl (D-WI) and Seventh District Congressman Dave Obey (D-WI) announced today that the FY2007 Defense Appropriations Bill, which was given final approval by Congress this week, includes $3.8 million to help the U.S. Army acquire two new products they have requested from Wausau based Clover Industries. Obey, the senior Democrat on the House Appropriations Committee, and Kohl, who serves on the Senate Appropriations Committee, identified those products as a priority for funding.

“Wisconsin is home to some solid defense research and development, and this project is an example of how it contributes to a more efficient, more adaptable military. The Department of Defense is increasingly taking notice of the innovative work happening in our state,” Kohl said.

“From designing new shelters for the Army to producing key components for military vehicles, Clover Industries has carved an important role for itself in supplying our military,” said Obey, the senior Democrat on the House Appropriations Committee. “Hopefully this funding will help make life a little easier for our troops and keep those good jobs here in the region.”

The bill includes:
 

Clover Industries employs 52 workers in Wisconsin, with 30 working full or part time on these projects.

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