Homegrown Wipro Hydraulics has signed an agreement to acquire the assets of Canada-based Mailhot Industries. Wipro Hydraulics is the hydraulics business of Wipro Infrastructure Engineering.
"Wipro Hydraulics has entered into a definitive agreement to acquire Mailhot Industries... subject to customary closing conditions, including regulatory approvals," Wipro Infrastructure Engineering said in a statement.
The company did not disclose any financial details related to the planned deal.
Mailhot Industries is a North American leader in hydraulic cylinder manufacturing and specialises in refuse trucks and snow removal equipment market, the statement said, adding that the acquisition also includes JARP Industries, a part of Mailhot Industries.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Pratik Kumar, Wipro Infrastructure Engineering (WIN) CEO and Wipro Enterprises Managing Director, said, "This acquisition marks a pivotal moment for us, further bolstering our market position by integrating new technologies and expanding our global footprint. This strategic move will complement our capabilities and strengthen our leadership position in the North American market."
Wipro Hydraulics President Sitaram Ganeshan said, "With this acquisition, we will expand our footprint to Canada, the US, and Mexico, as well as penetrate new segments like refuse trucks, snow removal equipment, defence, and remanufacturing in North America."
Bengaluru-based Wipro Infrastructure Engineering is a diversified business with expertise in engineering and manufacturing excellence in hydraulics, industrial automation, aerospace, water treatment, and additive manufacturing.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.