Bosch Rexroth Ltd. has completed the acquisition of Wakefield-based Hägglunds Drives Ltd., which will now be fully integrated into the Bosch Group.
The acquisition, for an undisclosed sum, will significantly strengthen the Rexroth position in the bulk materials, process and marine and offshore markets, where Hägglunds have had a traditionally strong presence with its hydraulic motor and drive products.
The integration will be fully completed by the 1st of June 2011. The Hägglunds brand will remain highly visible within the marketplace and its Wakefield-base will remain in operation along with its global office and distribution network.
Paul Cooke, Managing Director of Bosch Rexroth Ltd. in the UK commented: “This is very much an acquisition designed to mutually strengthen both Bosch Rexroth and Hägglunds Drives and will provide significant opportunities for both companies. Bosch Rexroth will benefit from the superb Hägglunds hydraulic technology and expertise in sectors such as marine and offshore. Hägglunds will benefit from the Bosch group’s stability and its commitment to research and development, which last year resulted in an investment of 7.8% of revenue, double the industry average.”
Tony Kay, Managing Director of Hägglunds Drives, commented: “We have already worked very closely with Bosch Rexroth on a number of applications. The formal completion of the acquisition will make both companies stronger and ensure that we have access to Bosch’s engineering expertise, ensuring we remain at the leading edge of drive and motor technology. My message to our customers is “that it will be a very positive and exciting future”
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