Wipro Hydraulics, a division of Wipro Infrastructure Engineering, announced on Thursday the acquisition of US-based Columbus Hydraulics. This strategic move is intended to bolster Wipro’s footprint in the North American market. Though the transaction value remains undisclosed, this acquisition signifies a major milestone for the Bengaluru-based conglomerate.
The company confirmed that it acquired 100% stake in Columbus Hydraulics, integrating its operations entirely within Wipro’s existing hydraulics cylinder manufacturing business. The acquisition will see Columbus Hydraulics becoming a wholly-owned subsidiary of Wipro Infrastructure Engineering, enabling a broader range of hydraulic solutions for diverse applications.
Pratik Kumar, CEO of Wipro Infrastructure Engineering and Managing Director of Wipro Enterprises, emphasized the significance of the acquisition, highlighting that it enhances their manufacturing capabilities. President of Wipro Hydraulics, Sitaram Ganeshan, noted that this move, following the recent acquisition of Mailhot Industries, accelerates their growth strategy in North America. As specified in an official statement, Columbus Hydraulics, headquartered in Nebraska, employs 150 skilled workers and operates a state-of-the-art plant covering 120,000 square feet.
(With inputs from agencies.)
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Publish date : 2024-08-07 22:34:00
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