Wipro Infrastructure Engineering (WIN) on Monday signed a definitive agreement to acquire Israel-based H R Givon, supplier of metallic parts and assemblies to the aerospace industry, in an all-cash deal.
In a statement issued, WIN said the acquisition will help the company broaden its product portfolio, expand global footprint and strengthen its ability to forge deeper customer relationships in the aviation and aerospace industry.
Givon is a 46-year-old company that manufactures structural parts and assemblies that form part of the fuselage, wings and empennage of an aircraft. It is a certified tier-1 supplier and counts leading global original equipment manufacturers among its customers. It has two manufacturing plants in Israel and one at Everett in the US.
WIN, which set up India’s first Aerospace actuator manufacturing facility at the Devanahalli Special Economic Zone near the Bengaluru in 2013, plans to expand into multiple product lines and enter into technology partnerships with leading aerospace companies.
Published 01 August 2016, 19:48 IST