Wipro Infra Engg to buy Israeli aero components manufacturer H R Givon
02 August 2016
Wipro Infrastructure Engineering (WIN), a division of Azim Premji's Wipro Enterprises, yesterday struck a deal to buy Israel-based aero components manufacturer H R Givon, for an undisclosed sum.
Founded in 1970 Ruth and Haim Givon, family-owned Givon is Israel's largest manufacturer of metallic aero structure parts and assemblies.
In 2008, Israel's private equity firm FIMI, acquired a majority stake in the company.
The forty-six-year-old company is a certified Tier-1 supplier and counts leading global original equipment manufacturers among its customers. It has three manufacturing plants, two in Israel and one at Everett, Washington in the US.
Givon specialises in precision machining, sheet metal fabrication and mechanical assembly of components made of Titanium. It manufactures structural parts and assemblies which form part of the fuselage, wings and empennage of an aircraft.
WIN said that the acquisition will help it broaden its product portfolio, expand global footprint and strengthen its ability to forge deeper customer relationships in the aviation and aerospace industry.
India is the largest buyer of Israeli military equipment while Israel is the second-largest defense supplier to India after Russia.
WIN specialises in designing and manufacturing custom hydraulic actuators and precision engineered components for a variety of applications such as aerospace, construction & earthmoving, material and cargo handling, forestry, farm and agriculture, mining, truck hydraulics, industrial hydraulics and defense.
WIN sees the aerospace industry as strategic to its future. In 2013, WIN setup India's first aerospace actuator manufacturing facility at the Devanahalli Special Economic Zone, near the Bangalore International Airport.
It has a global workforce of over 1,700 and has 13 state-of-the-art manufacturing facilities spread across India, Europe, the US and Brazil.