Cargotec announced today, Jan. 7, that it has sold its U.S.-based hydraulic cylinders manufacturing business Waltco Hydraulics to Ligon Industries. Terms were not disclosed. Waltco Hydraulics, based in Ohio, was part of Waltco Lift Corp., belonging to the Tail Lift (liftgate) division within the Industrial and Terminal business area at Cargotec.
“Ligon Industries is a long time supplier to Cargotec,” says Michael Militello, president of Waltco Lift Corp. “Based on our earlier experience of sourcing cylinders from Ligon, we trust Ligon as a reliable and high-quality producer whom we continue to count on as a supplier. In 2008, Waltco Hydraulics delivered approximately one-third of its volume to Cargotec’s businesses and the rest to external customers.”
Cargotec says the divestment is aligned with its global supply strategy that emphasizes an assembly-focused product supply setup close to customers.
