PMC Hydraulics Group invests further in India and acquires remaining shares in Hydroquip Hydraulics
Press release
August 20, 2024
PMC Hydraulics Group, with Dacke Industri as the Parent Company, is one of the leading Nordic providers of hydraulic systems and components for OEM customers across Europe and Asia. It has entered an agreement in July 2024 to acquire the remaining shares in Hydroquip Hydraulics in Bangalore, India.
Hydroquip Hydraulics started in 1996 in Bangalore and is one of the leading distributors in India of hydraulic components for primarily Kawasaki and SUN products. Hydroquip has an extensive experience and expertise in hydraulics and, in addition to the distribution services, there are also capabilities within design and manufacturing of customized manifolds as well as design and manufacturing of computerized test stands.
“We are excited to announce the complete acquisition of the remaining shares in Hydroquip Hydraulics. This strategic move underscores our steadfast commitment to industry innovation and positions us for enduring growth and success. We will remain in operative positions to secure continuous sustainable development and the objective of continuing to strengthen the PMC footprint in India. Together, we capitalize on new opportunities, and deliver an increased value to our stakeholders,” says Mikael Lundgren, VP Fluid Power Technology of Dacke Industri.
“Many years of collaboration with PMC Hydraulics Group have brought us immense benefits, thanks to their extensive global knowledge and experience, which have significantly enriched the value we deliver to our customers and employees. We are excited about the future and look forward to continuing as a stand-alone operation, owned by PMC Hydraulics Group 100%, anticipating many more opportunities ahead."
A. K. Kamam
MD of Hydroquip Hydraulics