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Ipswich firm acquires Flexequip |
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Written by Business Weekly
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Wednesday, 18 April 2007 |
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PIX Europe, a manufacturer of belts and hoses based in Ipswich, has announced its multi-million pound acquisition of Flexequip Hydraulics.
The Suffolk firm, which doubled in size through organic growth over the last three years, will acquire Flexequip’s operations in Wales and Northern Ireland. PIX said that while operations would continue as normal, new premises would be sought for the expansion of the Northern Ireland base. The synergy between PIX and the newly christened PIX Flexequip Hydraulics allows new possibilities for growth including a product range expansion to develop a a completely qualified, fully-compatible hose-assembly solution. “If projected growth figures are realised, we will probably use our Ipswich headquarters building, which has already doubled in size this year from 15k to 30k sq ft, as a storage facility for the increased range of hydraulic products,” said operations director, Stuart Booth. PIX said that the combined distribution net-work of the two companies would now reach 65 countries, providing an opportunity to market the firm’s end-to-end solution for all hydraulic needs. |
