“By combining the competencies and resources of ARGO-HYTOS and Voith, we want to offer our customers significant added value.” - Erich Hofer, CEO of ARGO-HYTOS
June 2022 : Global technology company Voith has taken control over the organization ARGO-HYTOS. Situated in Baar, Switzerland, the organization creates and delivers parts for water power and framework arrangements with an emphasis on the off-roadway area (horticultural farm haulers, development hardware and material taking care of vehicles). A related understanding was endorsed on June 6, 2022.
“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. “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”.
Cornelius Weitzmann, member of the Voith Corporate Board of Management and President and CEO of Voith Turbo commented, “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.”
The arrangement is supposed to be finished by August 2022, dependent upon every administrative endorsement. The two players have made a deal to avoid uncovering the monetary subtleties of the exchange.
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