Finrel completed the acquisition of a 51% stake in Tecnord.

Finrel, a provider of construction of pumps, motors, filters and hydraulic systems, completed the acquisition of a 51% stake in Tecnord, a manufacturer of components and systems intended to derive potential benefit from the integration of hydraulics and electronics. Financial terms were not disclosed. “Acquiring Tecnord is a natural step to further expand our position in the fast-growing electro-hydraulic market. In the future, we will offer to our customers a wider range of integrated and technological solutions for both the mobile and industrial market through Casappa, Ikron and Tecnord brands. We welcome the talented Tecnord team which has built a strong and highly technological brand. We look forward to working together to integrate ideas and expertise, enhancing the best of each company," Luciano Casappa, Finrel President.