Danfoss continues its almost dizzying array of acquisitions with the announcement that the Danish company has signed an agreement to acquire privately held Hydraulik Nord Fluidtechnik, supplier of hydraulic steering solutions in Parchim in Germany. The announcement said bringing Danfoss Power Solutions and Hydraulik Nord Fluidtechnik together was done to “create a strong global player in the hydraulic steering market” and will expand its product portfolio and increase manufacturing capacity.
The acquisition is subject to necessary approvals by relevant authorities and is expected to be fully completed during the first quarter 2019. As usual, the parties have not disclosed the purchase price or other conditions of the acquisition.
“Innovative and efficient product offerings to the agriculture market is vital for tomorrow’s food supply, and this acquisition confirms our strategic focus on building leading positions in our core businesses. 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,” said Eric Alström, president, Danfoss Power Solutions.
The January issue of Diesel Progress will feature an interview with Alström reviewing the acquisitions Danfoss Power Solutions has made since November 2017 when it purchased Visedo Oy (now Editron).
“Hydraulik Nord Fluidtechnik is widely recognized for their excellence in hydraulic steering products, and by adding Hydraulik Nord Fluidtechnik to Danfoss Power Solutions, we have an opportunity to offer more steering solutions focused on best-in-class performance. I’m looking forward to welcoming the team in Parchim to the Danfoss family. Together, we will build on the Hydraulik Nord Fluidtechnik knowhow and maintain a strong relationship with the community and the local university,” said Domenico Traverso, divisional president of Danfoss Power Solutions. “