Pneutech has announced an agreement to purchase the assets of Thomas Equipment, a Canadian manufacturer of skid-steer loaders, potato harvesters and other equipment.
“Our goal is to work with the company’s worldwide distribution network,” said Clifford M. Rhee, president and chief executive of Pneutech. “We will also focus on Asian markets, in particular the growing Chinese construction economy. We expect that this initiative will require increases in both production capacity and personnel for Thomas Equipment.”
Thomas Equipment will be an integral part of Pneutech’s growth strategy for the future, becoming an operating division of Pneutech, Rhee said.
Expected to close by the end of June, the purchase will include the property and factory building owned by Thomas Equipment in Centreville, New Brunswick, retail branch operations, machinery, equipment and other assets.
Rhee noted Pneutech has a strong familiarity with Thomas and its products as both a supplier of hydraulic parts and a retailer of Thomas skid-steer loaders.
Pneutech specializes in the design, engineering, manufacture and distribution of pneumatic and hydraulic systems and components for automation and motion control applications. Pneutech’s manufacturing and distribution facilities are located in Montreal, Toronto, Quebec City, Chicoutimi, Trois Rivi