Advik Hi-Tech acquires Hanon Bengaluru Ops
Automotive component maker Advik Hi-Tech on Monday announced the completion of the acquisition of the Hanon Bengaluru Operations Pvt Ltd from Hanon Systems of South Korea.
Mumbai
Hanon’s Bengaluru facility currently manufactures automotive water and vacuum pumps for global vehicle manufacturers, with scope for expansion, the company said in a release. This acquisition is a strategic fit as it accelerates ADVIK Hi-Tech’s global manufacturing and R&D expertise in the powertrain systems market, enabling it to deliver a comprehensive portfolio for pumps which includes oil, water and vacuum pumps for global vehicle manufacturers, ADVIK Hi-Tech said in a release.A part of the Pune-based around USD 100 million revenue ADVIK Group, the company’s product portfolio includes oil water and vacuum pumps, cam chains, tensionets and combined brake system, among others, catering to the automotive customers globally.
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