Huddersfield-based engineering company
David Brownhas been bought as part of a $1bn deal between East Kilbride-based
Clyde Blowers, and the Fortune 500 company
Textron.
In addition to David Brown Hydraulics and David Brown Gear Systems, the acquisition also involves the Swiss company Maag Pumps and US Penistone-based Union Pumps.
David Brown is a provider of gearing solutions and hydraulic pumps to industries such as defence, mining and cement. David Brown Gear Systems currently employs around 380 people at its
Jim McColl, chief executive of Clyde Blowers, said: ‘I believe it is a great boost for British business. At a time when the news is all about foreign businesses coming to the UK and buying our biggest companies, here is a story of a British company having the clout to buy an entire division from a global company ranked 202nd in the American Fortune 500.’
Ian Farquhar, David Brown’s general manager added: ‘This is great news for David Brown. It has been something of an open secret within David Brown for some time now and there is a mood of optimism within the company that with
Nanogenerator consumes CO2 to generate electricity
Whoopee, they've solved how to keep a light on but not a lot else.