Bosch Rexroth plans to buy Hägglunds Drives

ERJ staff report (DS)

Lohr, Germany/Mellansel, Sweden -- Bosch Rexroth plans to acquire all shares in Hägglunds Drives AB, which is based in Mellansel, Sweden. The contract was signed on July 18, 2008 in Stockholm (Sweden). The acquisition is subject to approval by the authorities.

In 2007, Hägglunds Drives employed around 900 people and achieved sales of approximately EUR 200 million. Hägglunds Drives is a leading international supplier of complete hydraulic drive systems, separate drive motors and services, with a high profile in the international tyre and rubber industry.

"The acquisition of Hägglunds Drives expands our industrial hydraulics portfolio and by this we gain new potential in growing markets, such as renewable energies, and mining and materials handling," explains Dr. Albert Hieronimus, Chairman of the Executive Board of Bosch Rexroth AG. Bosch Rexroth already offers a broad range of hydraulics solutions for industrial and mobile applications. At present, however, it only supplies radial piston motors-the primary product manufactured by Hägglunds Drives-in performance classes for use in mobile applications, such as small construction machinery.

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Press release from Bosch-Rexroth