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| So, what's new at Rineer? | ||||||||
| Hägglunds Drives acquires Rineer Hydraulics | ||||||||
| Hägglunds Drives has signed an agreement to acquire the operations of the American company Rineer Hydraulics Inc. for approx. USD 23 million. The acquisition will strengthen Hägglunds Drives’ product offering and position on the North American market. Hägglunds Drives will acquire the operations of Rineer Hydraulics through an assets sale. Rineer Hydraulics manufactures and sells hydraulic motors for applications in oil drilling, transport, agriculture and building & construction. The company enjoys strong growth and excellent profitability. In 2007, it had sales of approx USD.12 million and EBITA of approx. USD 3 million. The company is headquartered in Texas, USA and has 80 employees. “The acquisition of Rineer Hydraulics will complement and strengthen our product offering and our position on the North American market. In the future, we will be able to offer Rineer’s products on a global market through our strong global sales organisation,” comments Hägglunds Drives’ CEO Per Nordgren. |
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| HÄGGLUNDS | ||||||||