Wipro Expands Horizons with Indeco Acquisition
Wipro Hydraulics has signed an agreement to acquire a majority stake in Italy's Indeco Ind Spa. This move furthers Wipro's expansion into the hydraulic attachments market, enhancing their product range beyond hydraulic cylinders. The acquisition strengthens Wipro's manufacturing and distribution capabilities while retaining Indeco's founding family involvement.
- Country:
- India
Wipro Hydraulics, a division of Wipro Infrastructure Engineering, announced a significant acquisition on Thursday. The company has signed an agreement to purchase a majority stake in Indeco Ind Spa, an Italy-based hydraulic attachments manufacturer established in 1976.
This strategic acquisition allows Wipro to broaden its portfolio beyond hydraulic cylinders, venturing into the realm of hydraulic attachments like hammers and mulching heads. By integrating Indeco's operations, which include seven manufacturing facilities in Italy and one in the US, Wipro aims to strengthened its global presence and customer offering.
The Indeco acquisition retains the operational involvement of the founding Vitulano family. Indeco CEO Susanna Vitulano praised Wipro as the ideal partner for their growth, highlighting the potential for enhanced R&D capabilities. Wipro Hydraulics President Sitaram Ganeshan emphasized the combined 50-year legacy, focusing on innovation, quality, and customer service.
(With inputs from agencies.)
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