Danfoss to acquire White Drive Products
The Danfoss Group, an Ames-based manufacturer of mobile hydraulic components, today announced its intent to acquire full ownership of privately held White Drive Products Inc., a leading manufacturer of hydraulic motors based in Hopkinsville, Ky. Danfoss officials said the company represents an ideal match for its Danfoss Power Solutions segment. White Drive Products has a strong presence in the U.S. and China, and Danfoss Power Solutions has a strong presence in Europe. “This acquisition confirms our strategic focus on building leading positions in our core businesses,” said Niels Christiansen, president and CEO of Danfoss. White Drive Products has more than 700 employees and reported sales of approximately $100 million in 2015. It has manufacturing facilities in Hopkinsville and in Zhenjiang, Jiangsu, China, as well as sales and distribution offices in the U.S., China and Europe. The acquisition is subject to necessary approvals, and is expected to be completed during the third quarter of 2016.