Rexroth takes control of Oil Control1 February 2005
Bosch Rexroth AG of Germany has agreed the purchase of a majority share of Italy’s Oil Control Group SpA to develop its business in the growing compact hydraulics market. The deal is subject to the approval of cartel and competition authorities.
Oil Control Group is one of the leading manufacturers of compact hydraulics and with its screw-in valves, control blocks and small units offers a range of products via the Oil Control, EDI system, Oil Sistem, TARP and LC Oleodinamica brands.
Oil Control Group has more than 900 employees at several production sites in the Modena and Reggio Emilia region of Italy, as well as sales companies in Europe and the USA. The company has grown strongly in recent years and its 2003 turnover was Euro 113m.
‘With the acquisition of the Oil Control Group we are further expanding our position in the fast-growing compact hydraulics market,’ said Manfred Grundke, chairman of the executive board of Rexroth AG. ‘In future, we will offer our customers a more extensive range of compact hydraulic solutions for mobile and industrial applications.’
Andrea Storci, previously a partner of the Oil Control Group SpA and president of Oil Control SpA will manage the company with Dr Bruno Schneider and Dr Harald Wissel of Rexroth. Oil Control will be part of the Bosch Rexroth Hydraulics business unit.