Hitachi to acquire Sullair
Hitachi Ltd. and Accudyne Industries announced that the two companies have entered into an agreement for Hitachi to acquire Accudyne subsidiary Sullair, a manufacturer of air compressors.
The agreed upon purchase price is $1.245 billion.
Hitchi will gain access to Sullair’s global sales network, mainly in North America, and will accelerate the global rollout of its "Social Innovation Business" by providing Sullair’s customer base with digital solutions or IoT-compatible products.
Hitachi plans to add its air compressor products, currently sold primarily in Japan and Asia, to Sullair’s product lineup, and utilize the global sales network Sullair has established to increase the scale of the air compressor business.
“I am very pleased to announce that Hitachi has today agreed with Accudyne to proceed with the acquisition of Sullair, a leader in the air compressor business. Through this fusion with Sullair’s strengths, Hitachi will increase its competitiveness and strengthen the air compressor business, and at the same time, by utilizing Sullair’s global footprint, mainly in North America, we will accelerate the global rollout of the Social Innovation Business,” said Masakazu Aoki, executive vice president at Hitachi and CEO of the Industrial Products Business Unit.
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