PR Newswire
19 Jul 2022, 21:30 GMT+10
Two complementary players unite to offer comprehensive product portfolio for mobile and industrial applications
LINCOLNSHIRE, Ill., July 19, 2022 /PRNewswire/ -- HydraForce, Inc. plans to join Bosch Rexroth's growing portfolio of Compact Hydraulics products, expanding reach and support for customers. Bosch Rexroth, a subsidiary of Bosch, based in Lohr am Main, Germany, is a growing leader in Mobile and Industrial hydraulics products. Bosch Rexroth and HydraForce signed a respective contract on July 15, 2022. Both sides agreed to keep the purchase price confidential. The transaction is subject to anti-trust approval.
"With Bosch Rexroth, we found a great partner who values and shares similar views on innovation, customer focus, application expertise, and culture. I believe the new ownership will create great opportunities for our customers, partners and employees and lead to sustained growth," says Mike Terzich, President and CEO of HydraForce.
"With its diversified portfolio and international setup, Bosch Rexroth has a strong foundation. The acquisition of HydraForce expands our global market access through indirect sales channels: Sales partners and system integrators will become important target groups. In these challenging times, we are also helping to stabilize regional supply chains so that we can support our customers even better," says Frank Hess, Vice President Compact Hydraulics Business Unit of Bosch Rexroth.
HydraForce's extensive portfolio of products perfectly complement the existing product portfolio of Bosch Rexroth's Compact Hydraulic Business Unit. Within Bosch Rexroth, the business unit designs, manufactures and markets compact hydraulic components for applications such as earth moving, cranes, aerial platforms, agricultural machinery, and industrial applications at its four locations in China, the US, Germany and Italy. The business unit employs approximately 1,800 associates. HydraForce employs approximately 2,100 associates, most of which are located at six production locations in the US, Brazil, United Kingdom and China.
In addition to the complementary product portfolios, the regional sales structures of HydraForce and Bosch Rexroth complement each other perfectly as well: The combined activities will thus create a well-balanced entity in North/South America, Europe, and will also support further growth activities in Asia Pacific. Furthermore, the addition of HydraForce will significantly improve Bosch Rexroth's global market access through indirect sales channels (e.g. dealers and system integrators) which aligns with the long-term strategic target of Bosch Rexroth.
HydraForce was first established in Chicago, USA in 1985 and today has manufacturing facilities across the world, including North America, Great Britain, Brazil and China. The company designs and manufactures high performance hydraulic fluid power cartridge valves, custom manifolds, and electro-hydraulic controls. It has created thousands of custom control solutions for a variety of off-highway industries, encompassing farming, construction, marine, material handling, mining, and forestry.
HydraForce Media Contact:
David Price davidp@hydraforce.com
(847) 793-2300, Ext. 3511
SOURCE HydraForce, Inc.
Get a daily dose of Kuala Lumpur Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kuala Lumpur Times.
More InformationSACRAMENTO, California: Intending to raise some US$160 million per year to help prevent gun violence, California Governor Gavin Newsom signed ...
MANILA, The Philippines: The Philippines remains steadfast in its resolve not to yield to Chinese efforts to obstruct its fishermen ...
VICTORIA, Texas: This week, U.S. District Judge Drew Tipton in Victoria, Texas, ruled that President Joe Biden did not have ...
WASHINGTON D.C.: The National Transportation Safety Board (NTSB) said it is investigating a JetBlue flight on Monday that experienced sudden ...
SEOUL, South Korea: Marking a tougher stand against North Korea, South Korea held its first large-scale military parade in over ...
WASHINGTON D.C. After hundreds of deaths overseas from contaminated cough syrups, the U.S. Food and Drug Administration (FDA) has cracked ...
MANILA, The Philippines: The Philippines remains steadfast in its resolve not to yield to Chinese efforts to obstruct its fishermen ...
SHAN STATE, Myanmar - According to a military source and a representative of a local rescue organization, a bomb explosion ...
DHAKA, Bangladesh - According to U.S. Ambassador to Bangladesh Peter Haas, addressing Dhaka's air quality problem is essential for public ...
ISLAMABAD, Pakistan - According to a high-ranking government official who briefed a parliamentary panel on Wednesday, although Pakistan has accelerated ...
KATHMANDU, Nepal - On Thursday, the National Human Rights Commission expressed its grave concern over attacks and mistreatment of medical ...
SEOUL, South Korea: Marking a tougher stand against North Korea, South Korea held its first large-scale military parade in over ...