Manuli Hydraulics, a division of Manuli Rubber Industries (MRI) has announced the acquisition of a majority of the shares of the Indian company PSI Hydraulics (PSI).
PSI is India’s third-largest company in the field of hydraulic fluid conveyance solutions, having operations in Bangalore and Udaipur. Manuli will now assist through investments and know-how to help PSI secure its business growth potential and develop a network of world class operations to service the Indian market.
PSI’s products are supplied to OEMs and end users for use in heavy earthmoving, 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. As a member of the Manuli Hydraulics network, PSI’s customers will be brought closer to the manufacturer, providing access to the latest technological innovations, ensuring continuity of supply and enhanced operational capabilities based on Manuli’s global best practices.
The relationship also provides PSI’s customers with direct access to Manuli’s highly skilled technicians and engineers, who operate from five global Innovation Centres focused on the continuous development of new technologies and integrated customer tailored technical solutions.
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, while also providing enhanced local support to the existing and target OEM clients of both companies.
PSI has for over two decades delivered a highly motivated, professional and successful service to clients in India. This association is expected to provide the optimum combination of both Manuli and PSI’s strengths to the Indian market.
Manuli Hydraulics is focused on achieving excellence in the design, manufacture and supply of fluid conveyance solutions, components and associated equipment for high pressure hydraulics, refrigeration and oil and marine applications. It has over 2,000 employees, with manufacturing and logistics facilities located in 14 countries throughout the world.
September 9, 2016