After receiving all the official approvals, Voith successfully completed the acquisition of the majority shares of Argo-Hytos Group on August 2, 2022. Argo-Hytos, based in Switzerland, 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).
“Voith is the technology leader in drive technology in many industries. With its more than 70 years of experience, focus on technology and innovation as well as a clear customer orientation, Argo-Hytos perfectly complements our portfolio. For Voith, the acquisition is the ideal entry into the promising off-highway market,” says Cornelius Weitzmann, member of the Voith Corporate board of management and president and CEO of Voith Turbo. “By combining our competencies and resources, 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.
Voith and the previous owners of the Argo-Hytos Group, Christian Kienzle and FSP Capcellence signed a corresponding purchase agreement on June 6, 2022. The company will continue to operate as an independent brand with the addition "a Voith Company". This means that customers will continue to have access to the existing sales channels as usual.