Wipro’s infrastructure engineering division has acquired a majority stake in Brazil-based hydraulic cylinders manufacturer RKM Equipamentos Hidraulicos. The acquisition is expected to be complete this quarter. Wipro, which counts the world’s biggest manufacturer of construction equipment Caterpillar among its top customers, set up its ninth manufacturing unit at Wujin hitech industrial zone in Changzou, China last year.
RKM provides an ideal platform to expand and extend its portfolio of offerings in the Brazilian market as well as the rest of Latin America. Equipment manufacturers such as JCB and Caterpillar are increasingly looking to Wipro for supply of components in newer geographies like China and Brazil. A relatively small division for Wipro, the company sees its infrastructure business growing to a billion dollars in the next two or three years, mainly on the back of hydraulic cylinders and manufacturing components for aviation and defence contractors. crackcrack
