LOHR, Germany (July 29, 2008) — Bosch Rexroth A.G. has agreed to acquire all shares of Hagglunds Drives A.B.
The July 18 acquisition is subject to approval by authorities.
Hägglunds Drives is an international supplier of complete hydraulic drive systems, separate drive motors and services, with a high profile in the international tire and rubber industry that will expand Bosch Rexroth's industrial hydraulics portfolio, the firms said.
In 2007, Mellansel, Sweden-based Hagglunds Drives employed about 900 and recorded sales of about $274 million.