Lohr, Germany Bosch Rexroth AG has acquired the majority of shares in Oil Control Group S.p.A., headquartered in Milan, Italy. The acquisition is subject to the approval of antitrust authorities.Oil Control Group (www.oilcontrol.com) is one of the leading manufacturers of hydraulic cartridge valves and manifolds. Its Oil Control, EDI System, Oil Sistem, TARP and LC Oleodinamica brands offer a technologically advanced range of products such as screw-in valves, control blocks and small units.In 2003, Oil Control Group had sales of 113 million euros and in recent years has consistently recorded above-average growth rates. The company has more than 900 employees with several production sites in the Modena and Reggio Emilia (Italy) regions, and sales facilities in Europe and the United States.Acquiring the Oil Control Group further expands our position in the fast-growing compact hydraulics market, said Manfred Grundke, president of Bosch Rexroth AG. In the future, we will be able to offer our customers a wider range of Bosch Rexroth cartridge valve and manifold solutions for both the mobile and industrial hydraulic markets.According to Wolfgang Dangel, President and CEO in the U.S., the acquisition helps Bosch Rexroth round out its product line. To date we did not have a complete cartridge valve product line, he says. Combining our existing line with the Oil Control line gives us a complete product offering for industrial and mobile applications.In North America, the Bosch Group manufacturers and markets automotive original equipment and aftermarket products, industrial automation and mobile products, power tools and accessories, security technology, packaging equipment and household appliances. Bosch Rexroth Corporation, a merger of Bosch Automation Technology and Rexroth, is a wholly owned subsidiary of Robert Bosch GmbH. In the year 2003, Bosch Rexroth AG achieved sales of $4.4 billion (3.7 billion Euros) with 25,700 employees. Under the brand name of Rexroth, the company offers all relevant drive, control and motion technologies: from mechanics, hydraulics and pneumatics to electronics and associated services. Rexroth has 500,000 customers in over 80 countries and is an extensive supplier of components and systems for industrial and factory automation and mobile applications.Visit www.boschrexroth.com
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