Voith Acquires Argo-Hytos Group

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20220615/1655271893913865.jpg" title="1655271893913865.jpg" alt="5.jpg"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">Voith has acquired Argo-Hytos. Based in Baar, Switzerland, the company develops and produces components for hydraulics and system solutions with a focus on the off-highway sector (agricultural tractors, construction equipment and material handling vehicles). A corresponding agreement was signed on June 6, 2022.&nbsp;</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">“Voith is the technology leader in drive technology in many industries. We have defined the off-highway sector as an additional growth area for Voith Turbo. With its more than 70 years of experience, focus on technology and innovation as well as a clear customer orientation, the family business Argo-Hytos is a perfect fit for Voith. This makes Argo-Hytos the ideal entry point for Voith into this promising market,” says Cornelius Weitzmann, member of the Voith Corporate board of management and president and CEO of Voith Turbo.&nbsp;</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">“By combining the competencies and resources of Argo-Hytos and Voith, we want to offer our customers significant added value. In addition to the successful continuation of the previous growth strategy of Argo-Hytos, our primary focus is on the joint development of customer solutions in the megatrend areas of electrification, digitalization and sustainability,” adds Erich Hofer, CEO of Argo-Hytos. The company will be continued as an independent brand with the addition “a Voith Company”.&nbsp;</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">Voith is acquiring 79.5% of the Argo-Hytos shares. The further participation of the two previous owners Christian Kienzle and FSP Capcellence sends a strong signal that Argo-Hytos will consistently and continuously pursue its successful path in a new ownership structure.&nbsp;</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">&quot;Argo-Hytos has found its new home as a strategic platform for off-highway applications at Voith Turbo,&quot; says Christian Kienzle, former majority shareholder of the Argo-Hytos Group. &quot;Voith will enable Argo-Hytos to continue and accelerate its long-term growth strategy, thus also offering a secure perspective to all our employees,&quot; adds Dr. Spyros Chaveles, Managing Partner of Capcellence.</span></p><p><br/></p>