Loading…
Sun Hydraulics, a division of Helios Technologies, opened a 38,750 sq ft plant in Kunshan, Jiangsu Province, China, for assembly and testing. Initial investment was $4 million, expected to grow to $10 million, with 40 employees and a target of 100.
Sun Hydraulics (Helios Group) opened its Kunshan plant in the German Industrial Park in Zhangpu Town, China, its first and only factory in Greater China. The project has a total investment of $10 million and registered capital of $8 million.
Sun Hydraulics agreed to acquire Faster Group, a Milan-based maker of quick-release hydraulic couplings, from Capvis Equity IV and co-investors for €430 million (about $531 million) in cash. The deal is expected to close in the second quarter of 2018.
Enovation Controls, a Sun Hydraulics subsidiary in Tulsa, Oklahoma, announced a merger with fellow Sun subsidiary High Country Tek, which operates in Nevada City, California. The merger is scheduled for December 31, 2017.
Sun Hydraulics plans to buy property and develop a factory in South Korea to manufacture products locally for Asia Pacific customers. Roughly half the cost is expected in 2017, with completion in 2018.
Sun Hydraulics agreed to acquire the Power Controls and Vehicle Technologies business lines of Enovation Controls, LLC for an initial $200M plus up to $50M earn-out, expected to close within 30 days.
