Atos SpA announced today that it has acquired full ownership of Fluid Power Associates, Inc., in which it held a minority stake. The name of the newly restructured company will be “Atos North America.” The purchase will allow the Italian hydraulics manufacturer to better operate in the North American market.
Originally founded in 2002 as a joint venture between Atos SpA and ten North American hydraulics distributors, Fluid Power Associates Inc. has served as the North American Master Distributor for the Atos brand of electrohydraulic components for over 13 years.
Additional information provided by Atos indicates the company intends to continue to invest in the newly acquired Atos North America, and expand its breadth and depth of capabilities as it did with its Shanghai division. Giovanni Zucchelli, Sales & Marketing Manager for Atos global says of this intention to invest: “In China, our Atos Shanghai division has grown significantly in the past 10 years. Now with over 70 staff members and $35 mil in annual sales, this division serves as an example of what we intend for North America. With a large, technologically advanced customer base similar to that of Europe, North America represents an important part of our growth strategy moving forward.”
Atos