Gates Corporation acquires A.E. Hydraulic
Posted: 10 March 2008
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Hose and fittings supplier, Gates Corporation has acquired AE Hydraulic (Pte), a Singapore-based supplier of hydraulic and industrial hose solutions to the oil exploration industry, the company has announced.
The company was founded in Singapore in 1999, by Mr. Chua Beng Ee, one of the pioneers in bringing service and quality to a higher level in Singapore.
The head office and warehouse facility is located in the heart of Jurong, Singapore’s largest industrial area. By allowing Gates to accelerate its market expansion into this high-growth market for oil and gas exploration—with access to the largest drilling rig manufacturers in the world―A.E. Hydraulic will be a strategic addition to Gates Corporation.
“Having a solid reputation in the dynamic and expanding Singapore market, AE Hydraulic is well positioned to serve the needs of the oil and gas industry, and is a natural addition to Gates presence in the Southeast Asia region. The acquisition creates new opportunities for Gates to enter the market with hydraulic and industrial hose and fittings as well as assembly services,” said Gates Corporation President, John Bohenick.
B.E. Chua, A.E. Hydraulic Chairman said, “The alignment with Gates will give us a great opportunity to accelerate growth in the region and further enhance customer service and satisfaction.” |
