Majority share acquisition of ARGO-HYTOS successfully completed
After receiving all the official approvals, Voith successfully completed the acquisition of the majority shares of ARGO-HYTOS Group on August 2, 2022.
HEIDENHEIM, GERMANY/BAAR, SWITZERLAND.
After receiving all the official approvals, Voith successfully completed the acquisition of the majority shares of ARGO-HYTOS Group on August 2, 2022. ARGO-HYTOS, based in Switzerland, develops and produces components for hydraulics and system solutions with a focus on the off-highway sector (agricultural tractors, construction equipment and material handling vehicles).
“Voith is the technology leader in drive technology in many industries. With its more than 70 years of experience, focus on technology and innovation as well as a clear customer orientation, ARGO-HYTOS perfectly complements our portfolio. For Voith, the acquisition is the ideal entry into the promising off-highway market,” says Cornelius Weitzmann, member of the Voith Corporate Board of Management and President and CEO of Voith Turbo. “By combining our competencies and resources, we want to offer our customers significant added value. In addition to the successful continuation of the previous growth strategy of ARGO-HYTOS, our primary focus is on the joint development of customer solutions in the megatrend areas of electrification, digitalization and sustainability,” adds Erich Hofer, CEO of ARGO-HYTOS.
Voith and the previous owners of the ARGO-HYTOS Group, Christian Kienzle and FSP CAPCELLENCE, signed a corresponding purchase agreement on June 06, 2022. The company will continue to operate as an independent brand with the addition "a Voith Company". This means that customers will continue to have access to the existing sales channels as usual.
The ARGO-HYTOS Group is a component and system supplier that services customers in the field of mobile working machinery and general mechanical engineering. The family business with more than 1,600 employees has more than 70 years of experience in fluid & motion control and filtration technology in mobile and industrial hydraulics. ARGO-HYTOS has become an innovation leader particularly in the area of mobile hydraulics. ARGO-HYTOS holds numerous patents and has frequently set new standards in the industry. With production companies in Germany, Czech Republic, Poland, India and China as well as numerous own distribution and assembly companies the ARGO-HYTOS Group is active worldwide.
About the Voith Group
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, paper, raw materials and transport & automotive. Founded in 1867, the company today has around 20,000 employees, sales of € 4.3 billion and locations in over 60 countries worldwide and is thus one of the larger family-owned companies in Europe.
The Group Division Voith Turbo is part of the Voith Group and a specialist for intelligent drive technology, systems as well as tailor-made services. With its innovative and smart products, Voith offers highest efficiency and reliability. Customers from highly diverse industries such as oil and gas, energy, mining and mechanical engineering, ship technology, rail and commercial vehicles rely on the advanced technologies and digital applications of Voith.
Vice President Global Communication Voith Turbo
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