Manuli Hydraulics acquires PSI Hydraulics
Manuli Hydraulics announced the acquisition of the majority of shares of India-based PSI Hydraulics.
PSI is India’s third largest company in the field of hydraulic fluid conveyance solutions, having operations in Bangalore and Udaipur.
PSI’s products are used in heavy earth moving, construction, surface and underground mining equipment, machine tools, plastic injection moulding machines, material handling equipment, and steel, cement and defence equipment.
Following the acquisition, the name of the company has changed from PSI Hydraulics Private Limited to Manuli PSI Hydraulics Private Limited.
"This acquisition further strengthens Manuli Hydraulics global footprint in manufacturing and assembly operations bringing its capabilities closer to key industries within the growing Indian market, whilst also providing enhanced local support to the existing and target OEM clients of both companies," according to a company statement.