Posted to News on 12th Nov 2008, 15:18
Bosch Rexroth to acquire Hägglunds Drives
Bosch Rexroth says it plans to acquire all shares in Hgglunds Drives AB, which is based in Mellansel, Sweden. The contract was signed on 18 July 2008 in Stockholm, Sweden, though the acquisition is subject to approval by the authorities.
In 2007 Hgglunds Drives employed around 900 people and achieved sales of approximately EUR200million. The company is described as a leading international supplier of complete hydraulic drive systems, separate drive motors and services. The Group develops, manufactures, markets and services complete drive systems for applications requiring high torque and variable speeds. The drive systems are used in a wide range of industries, such as mining and materials handling, marine and offshore, recycling, sugar, pulp and paper. In the renewable energies sector, Hgglunds Drives products are used to drive machines for producing ethanol, and feature in the first prototypes for generating tidal energy.
Dr Albert Hieronimus, Chairman of the Executive Board of Bosch Rexroth AG, states: "The acquisition of Hgglunds Drives expands our industrial hydraulics portfolio and by this we gain new potential in growing markets, such as renewable energies, and mining and materials handling."
Bosch Rexroth already offers a broad range of hydraulic products for industrial and mobile applications. At present, however, it only supplies radial piston motors - the primary product manufactured by Hgglunds Drives - in performance classes suitable for use in mobile applications, such as small construction machinery.
The headquarters of Hgglunds Drives in the Swedish city of Mellansel is also the company's largest production site. Other production sites are located in San Antonio, Texas, and Columbus, Ohio, in the USA. The company has a global sales network and offices in over 20 countries, in addition to around 50 sales and service offices.
