Axel Johnson International enters Hungarian power transmission market
Axel Johnson International’s business group Power Transmission Solutions has acquired KTT, effective 31 May. KTT is a leading Hungarian distributor and manufacturer of seals, serving both end-users and international OEM customers.Founded in 1980, KTT is a leading distributor and manufacturer of sealing technology, offering a wide range of rotating seals, hydraulic seals and o-rings. The head office is located in Sopron in Western Hungary, in close proximity to the Austrian border. “Entering the Hungarian market by the acquisition of KTT is well in line with our business group strategy