HYDRAULIC cylinder manufacturer Hyco International has sold Hidrover Válvulas S/A to Sauer-Danfoss Ltda, a Brazilian subsidiary of Sauer-Danfoss Inc. (SHS NYSE).
This was the second step in a two-step transaction. In April the shareholders of Hidrover Equipamentos Oleodinâmicos S/A created a spin-off company, Hidrover Válvulas S/A, to separate the hydraulic valves business from the hydraulic cylinder business. As previously reported, Hyco acquired the residual hydraulic cylinder company, Hidrover Equipamentos Oleodinâmicos in 15 May 2001. On the same day, Sauer-Danfoss agreed to buy the spin-off valve company. That purchase closed late July.
