Wipro Infrastructure Engineering (WIN) will acquire Israel-based H R Givon, supplier of metallic parts and assemblies to the aerospace industry, in an all-cash deal.WIN, however, did not disclose the size of the deal.
WIN believes that this acquisition will help them broaden its product portfolio, expand global footprint and strengthen its ability to forge deeper customer relationships in the aviation and aerospace industry.
The acquisition is subject to customary closing conditions and regulatory approvals, which are expected to be completed in September this year.
Givon manufactures structural parts and assemblies that form part of the fuselage, wings and empennage of an aircraft. The 46-year-old company is a supplier to global firms like Boeing, Hindustan Aeronautics Ltd (India) and KAI (Korea).
It has three manufacturing plants — two in Israel and one at Everett, Washington.
WIN, which specialises in designing and manufacturing custom hydraulic actuators and precision engineered components for aerospace, construction and earth-moving and defence sectors, has a global workforce of over 1,700 people.
Part of Wipro Enterprises, WIN has 13 manufacturing facilities spread across India, Europe, the US and Brazil.
By Baishakhi Dutta
