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Helios Technologies Advances Augmented Strategy: Integrates and Consolidates to Create Two Operational Centers of Excellence in North America for Hydraulics Segment
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Rhea-AI Summary
Helios Technologies (NYSE: HLIO) is expanding its operations by forming two new Centers of Excellence for its Hydraulics segment in Mishawaka, Indiana, and Sarasota, Florida. The Mishawaka facility will centralize manifold machining and integrated package assembly operations, while coupling product lines will co-locate with a cartridge valve technology center in Sarasota. This restructuring aims to enhance operational efficiency and drive innovation in hydraulic solutions. The facility expansion includes adding over 50,000 square feet and is supported by local tax incentives, with completion expected by Q3 2023.
Positive
Formation of two Centers of Excellence for improved operational efficiency.
Expansion of the Mishawaka facility to add over 50,000 square feet.
Support from local community through tax incentives.
Expected completion of manufacturing relocation by Q3 2023.
Negative
None.
Expands Mishawaka, Indiana campus gained with Daman Products acquisition to centralize manifold and integrated package operations
Transfers U.S. coupling product line to co-locate with cartridge valve technology center
SARASOTA, Fla.--(BUSINESS WIRE)--
Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, announced today that it is forming two new Regional Operational Centers of Excellence (“CoE”) for its Hydraulics segment. Facility expansion is currently underway in Mishawaka, Indiana, the future Hydraulic Manifold Solutions CoE, to accept the manifold machining and integrated package assembly operations from Sun Hydraulics, the integrated package business from Faster Inc, and to allow for Daman’s core organic growth. The quick release coupling (QRC) manufacturing will then transfer from Maumee, OH to the cartridge valve technology location in Sarasota, FL to complete the Hydraulic Valve and Coupling Solutions CoE.
Josef Matosevic, Helios’ President and Chief Executive Officer, commented, “The restructuring of our Hydraulics segment in the Americas into two Centers of Excellence is a major step in our journey to leverage our long history in hydraulics with our acquisitions. With this move, we expect to drive greater operational efficiencies, quality control and enable technology enhancements that create advanced hydraulic solutions for our customers. Importantly, we can further our expertise in hydraulics and electronics to exceed the boundaries of today’s approach to motion control by expanding our unique pure-play position in the industry.”
He added, “We believe that our two new Centers of Excellence, combined with the strength of innovation in our quick release coupling and hydraulic valve operations in Italy, create the platforms that accelerate our drive to being a global leader of electro/hydraulic solutions. We engineer motion control solutions for applications in our targeted markets that require high degrees of precision, reliability, and durability. The integration and consolidation serve to strengthen our ‘in the region, for the region’ strategy, promote enhanced R&D collaboration, and enable expanded capacity to support our future growth.”
Expansion Supported by Local Community
Helios is in the process of adding over 50,000 square feet to the 72,000 square foot facility gained with the acquisition of Daman Products Company in September 2022. As a result of Helios’ investment in infrastructure and commitment to local hiring, the state of Indiana and the City of Mishawaka have granted the Company various tax incentives.
The relocation of manufacturing operations to Daman Products is expected to be completed by the third quarter of 2023.
About Helios Technologies
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com and follow us on LinkedIn.
What is Helios Technologies' recent operational expansion about?
Helios Technologies is establishing two new Centers of Excellence for its Hydraulics segment, one in Mishawaka, Indiana, and another in Sarasota, Florida.
When is the relocation of manufacturing operations expected to be completed?
The relocation of manufacturing operations to Daman Products is expected to be completed by the third quarter of 2023.
What is the significance of the Mishawaka facility expansion for Helios Technologies?
The Mishawaka facility expansion aims to centralize manifold machining and integrated package assembly operations, enhancing operational efficiencies and innovation.
How much additional space is being added to the Mishawaka facility?
The Mishawaka facility is adding over 50,000 square feet to its 72,000 square foot space.
What support has Helios Technologies received for its expansion project?
Helios Technologies has received various tax incentives from the state of Indiana and the City of Mishawaka as part of its commitment to local hiring and infrastructure investment.
