Manuli Rubber Industries SpA (MRI) and RYCO Hydraulics Pty Ltd (RYCO) have jointly announced that MRI has completed an acquisition of a majority shareholding in RYCO. MRI will soon merge its Manuli Hydraulics and Fluiconnecto divisions with RYCO to provide an enhanced product range and full global supply and service offering to customers of both companies. MRI and RYCO together have over 4,500 employees. The combined business will be a leader in the global hydraulic hose and fittings industry, servicing a broad range of market sectors.
MRI operates through two divisions: Manuli Hydraulics (design and manufacture) and Fluiconnecto (distribution and service). The Manuli, Fluiconnecto and RYCO, RYCO24•7 brands will be retained, and each company will continue to operate through existing channels to market, with the ability to access both product and distribution synergies.
Leigh Morrison will continue in his role of RYCO CEO and will be invited to join the MRI Board. A new RYCO Board has been constituted with MRI representation.
Image credit: Manuli Rubber Industries SpA & RYCO Hydraulics Pty Ltd
