24.07.2012

Controls take over

US based control systems manufacturer Actuant has acquired Sweden’s CrossControl AB for $40 million in cash, plus a potential performance related consideration.

Wisconsin headquartered Actuant will integrate CrossControl into its Maxima Technologies business, which provides electronic instrumentation including displays, clusters, machine controls and sensors.

CrossControl supplies control systems to companies like Hiab/Cargotec for its loader cranes and forestry products. It also produces a range of tower crane and truck mounted platform control systems.

CrossControl chief executive Peter Lageson said: “As a part of Actuant we have the backing and financial strength to develop into a truly global provider of advanced vehicle control solutions. We will now be able to accelerate our growth in Europe and US and we will also get more momentum in our business in China and other emerging markets.”