14 March 2001
AA Richmond has sold its industrial hydraulics business to SPX Corporation of Muskegon, Michigan. SPX operates complementary fluid power businesses world-wide, under the name of SPX Fluid Power.
AA Richmond Chief Executive, Keith Butler-Wheelhouse, said: Our Industrial activities are now focussed on the fast-growing interconnect sector and air movement products. Industrial hydraulics was not a core activity and it will benefit from joining SPX, a recognised specialist in this field."
The business manufactures hydraulic pumps, valves and power packs for use in rail systems, material handling and industrial markets. Based at Witney, Oxfordshire, it employs 135 people.
ENDS
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