Danfoss acquired Hydraulik Nord Fluidtechnik looking at the steering of tomorrow
Hydraulik Nord Fluidtechnik, supplier of hydraulic steering solutions from Parchim in Germany, is now part of the Danfoss family. Hydraulik Nord Fluidtechnik has a documented track record in serving large customers. In fact, it represents an ideal match to Danfoss that will so expand the product portfolio and increase manufacturing capacity. The idea is to develop a strong strategy together to create a significant position in the hydraulic steering market.
Hydraulik Nord Fluidtechnik and Danfoss Power Solutions are both quite relevant players in the market. So, together now they have high potential to reach very important global footprint and engineering capabilities.
The words of Danfoss on the agreement
Eric Alström, president of Danfoss Power Solutions, said: «Innovative and efficient product offerings to the agriculture market is vital for tomorrow’s food supply. This acquisition confirms our strategic focus on building leading positions in our core businesses. In particular, with Hydraulik Nord Fluidtechnik as part of our mobile hydraulics business, we will have an even more competitive product offering from which our customers within agriculture and other segments will benefit».
Domenico Traverso, Divisional President in Danfoss Power Solutions, said: «Hydraulik Nord Fluidtechnik is widely recognized for their excellence in hydraulic steering products. By adding their knowledge to Danfoss Power Solutions, we have an opportunity to offer more steering solutions focused on best-in-class performance. In fact, I’m looking forward to welcoming the team in Parchim to the Danfoss family. Together, we will build on their knowhow and maintain a strong relationship with the community».
And the words of Hydraulik Nord Fluidtechnik
Karl Werner, shareholder of Hydraulik Nord Fluidtechnik said: «Joining forces with Danfoss is a great step for our business. In fact, together, we will have more capacity and investment for greater innovation, and most importantly, growth, by using our increased manufacturing footprint to expand market share and this is a unique opportunity to utilize the strengths of the two companies».
The acquisition is subject to necessary approvals by relevant authorities and will probably be definitive during the first quarter 2019. The parties have not disclosed any conditions of the acquisition yet.