Brownian motion
Huddersfield-based engineering company David Brown has been bought as part of a $1bn deal between East Kilbride-based Clyde Blowers, and American Fortune 500 company Textron.
Huddersfield-based engineering company
has been bought as part of a $1bn deal between East Kilbride-based
, and the Fortune 500 company
.
In addition to David Brown Hydraulics and David Brown Gear Systems, the acquisition also involves the Swiss company Maag Pumps and US Penistone-based Union Pumps.
David Brown is a provider of gearing solutions and hydraulic pumps to industries such as defence, mining and cement. David Brown Gear Systems currently employs around 380 people at its
Jim McColl, chief executive of Clyde Blowers, said: ‘I believe it is a great boost for British business. At a time when the news is all about foreign businesses coming to the UK and buying our biggest companies, here is a story of a British company having the clout to buy an entire division from a global company ranked 202nd in the American Fortune 500.’
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