07.01.2010

Cargotec sells Waltco Hydraulics

Cargotec owner of Hiab and Kalmar, has sold its US based hydraulic cylinder manufacturing business Waltco Hydraulics to Ligon Industries. The parties have agreed not to disclose the transaction value.

Waltco Hydraulics is located in Tallmadge Ohio, is part of Waltco Lift which was acquired by Zepro/Hiab in 1992. Last year it merged with Ultron tail lifts acquired by Hiab in 2008.

Michael Militello president of Waltco Lift said: “Ligon Industries is a long time supplier to Cargotec. Based on our earlier experience of sourcing cylinders from Ligon, we trust Ligon as a reliable and high-quality producer whom we continue to count on as a supplier.

In 2008 Waltco Hydraulics delivered around a third of its total production volume to Cargotec’s businesses and the rest to external customers.”

Cargotec says that the divestment is part of its global supply strategy which emphasizes an assembly-focused product supply set-up close to customers.