Milano, March, 7th 2008 - Manuli Rubber Industries announces the acquisition of the entire capital of Powerforce Hydraulics Witbank (Pty) Ltd, a privately owned company headquartered in Witbank, Mpumalunga Province, and the opening of a new subsidiary in Johannesburg, named Manuli Fluiconnecto (Pty) Ltd.
Powerforce is a leading service company with a focus on hydraulics, providing state of the art services to the mining industry and other sectors from its fully equipped location in Witbank.
Powerforce's highly recognized technical competence, its ability to promptly respond to customers' needs, the broad availability of components and the high quality of its service level, have allowed Powerforce to become a leading retail distributor of hydraulic components in South Africa.
Powerforce employs 25 people, and is expected to experience strong growth in the years to come. The current management will remain on board, committed to support Powerforce for its further developments and success. In the short term the company will continue to conduct business under the Powerforce brand, but will eventually trade under the Fluiconnecto By Manuli brand in the future.
The acquisition coincides with the establishment of a new subsidiary in Johannesburg, named Manuli Fluiconnecto (Pty) Ltd with a focus on South Africa and the whole sub-saharan region. The Johannesburg headquarters and local service point are based in Germiston.
Fluiconnecto By Manuli is a leading international distribution organization, serving all sectors of activity with a complete range of high quality hydraulic connectors and related services, driven by know how and added value. The acquisition, the new opening and in general Manuli Rubber Group's strong commitment to South Africa enhances Manuli Rubber Group' global position in the retail business, by being able to offer to its customers a full range of integrated products and high quality services, with strong local presence. Including the latest expansion into South Africa, Fluiconnecto By Manuli now operates a network of more than 110 fully owned hydroshops in Europe, South America and South Africa.