March 31, 2010 (FinancialWire) — Industrias Romi S.A. (Bovespa: ROMI3), a Brazilian manufacturer of machine tools, said it has launched a fully funded cash tender offer to acquire all of the outstanding shares of Hardinge Inc. (NASDAQ: HDNG) for $8 per share.

New York-based Hardinge makes a range of industrial products, including computer controlled cutting lathes.

According to Romi, the offer and withdrawal rights are scheduled to expire at 12: 00 midnight, New York City time, on May 10, unless extended or terminated.

The offer represents a premium of 46% to Hardinge's closing share price on February 3, the last trading day prior to the public disclosure of Romi's offer to Hardinge's board, and a premium of over 63% to Hardinge's closing share price on December 14, 2009, when Romi claims it first formally communicated its interest to Hardinge in pursuing a business combination.

Romi said that the offer is not subject to any financing condition and will be funded entirely from Romi's internal resources.

Harding rejected an earlier proposal by Romi on February 18, 2010, and the Hardinge board continues to refuse any discuss of a business combination of the two companies. Romi claims that Hardinge has refused to respond to Romi's attempts to engage in a dialogue over the past few days.

Romi said that, in light of this, it has decided to present its offer directly to Hardinge's shareholders.

Brazil-based Industrias Romi manufactures machine tools, mainly lathes and machining centers, plastic injection and blow molding machines for thermoplastics and parts made of grey, nodular or vermicular cast iron, which are supplied rough or machined.

The company's products and services are sold globally and used by a range of industries, such as the automotive, general consumer goods and industrial and agricultural machinery and equipment industries.

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