Cargotec Sheds Hydraulic Cylinders Business

Finland-based Cargotec, which provides handling systems and related services for the loading and unloading of goods, has divested Waltco Hydraulics, its U.S.-based hydraulic cylinders manufacturing business, to Ligon Industries.

Ohio-based Waltco Hydraulics was part of Waltco Lift Corp., which is part of the tail lift division within the industrial and terminal business at Cargotec.

"Ligon Industries is a long time supplier to Cargotec," said Michael Militello, president of Waltco Lift Corp. "Based on our earlier experience of sourcing cylinders from Ligon, we trust Ligon as a reliable and high-quality producer whom we continue to count on as a supplier. In 2008 Waltco Hydraulics delivered approximately one third of its volume to Cargotec's businesses and the rest to external customers."

According to Cargotec, the sale is part of the company's global supply strategy.