New Delhi: Domestic Wipro Hydraulics has signed an agreement to acquire the assets of Canada-based Mailhot Industries.
Wipro Hydraulics is the hydraulics business of Wipro Infrastructure Engineering.
"Wipro Hydraulics has entered into a definitive agreement to acquire Melho Industries... subject to customary closing conditions including regulatory approvals," Wipro Infrastructure Engineering said in a statement.
The company did not disclose any financial details related to the planned deal.
Mailhot Industries is a North American leader in hydraulic cylinder manufacturing and specializes in the garbage truck and snow removal equipment markets, the statement said. It said the acquisition also includes JAR Industries, which is a part of Mailhot Industries.
Pratik Kumar, CEO, Wipro Infrastructure Engineering (WIN) and Managing Director, Wipro Enterprise, said, “This acquisition is an important moment for us, allowing us to further strengthen our market position by integrating new technologies and expanding our global footprint "This strategic move will complement our capabilities and strengthen our leadership position in the North American market."
Sitaram Ganesan, President, Wipro Hydraulics, said, “With this acquisition, we will expand our footprint in Canada, the US and Mexico, as well as into new segments in North America such as refuse trucks, snow removal equipment, defence, a remanufacturing Will enter."
Bengaluru-based Wipro Infrastructure Engineering is a diversified business specializing in engineering and manufacturing excellence in hydraulics, industrial automation, aerospace, water treatment and additive manufacturing.
Wipro Hydraulics is the hydraulics business of Wipro Infrastructure Engineering.
"Wipro Hydraulics has entered into a definitive agreement to acquire Melho Industries... subject to customary closing conditions including regulatory approvals," Wipro Infrastructure Engineering said in a statement.
The company did not disclose any financial details related to the planned deal.
Mailhot Industries is a North American leader in hydraulic cylinder manufacturing and specializes in the garbage truck and snow removal equipment markets, the statement said. It said the acquisition also includes JAR Industries, which is a part of Mailhot Industries.
Pratik Kumar, CEO, Wipro Infrastructure Engineering (WIN) and Managing Director, Wipro Enterprise, said, “This acquisition is an important moment for us, allowing us to further strengthen our market position by integrating new technologies and expanding our global footprint "This strategic move will complement our capabilities and strengthen our leadership position in the North American market."
Sitaram Ganesan, President, Wipro Hydraulics, said, “With this acquisition, we will expand our footprint in Canada, the US and Mexico, as well as into new segments in North America such as refuse trucks, snow removal equipment, defence, a remanufacturing Will enter."
Bengaluru-based Wipro Infrastructure Engineering is a diversified business specializing in engineering and manufacturing excellence in hydraulics, industrial automation, aerospace, water treatment and additive manufacturing.
