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 for geographical expansion. As a sealing-specialist with a strong product knowledge, KTT is a great addition to our group since we see an interesting growth potential in the sealing technology business,” says Ola Sjölin, Managing Director, Power Transmission Solutions.
As a well-known expert in the sealing industry, KTT has established and maintained a loyal international customer base. For 20 years, the company has been an approved distributor of Freudenberg sealing solutions and its product offering includes radial seals, pneumatic- and hydraulic seals, and o-rings. With a complimentary mix of own production and distribution, KTT can offer a valuable one-stop-shop with expertise and tailored solutions to its customers.
“We’re glad to become part of Axel Johnson International since the company culture and core values are similar to ours. Our knowledge within seals combined with Axel Johnson International’s know-how of the industry gives us strong support for future development and to strengthen our position in the market,” says Gábor Takács, Managing Director of KTT.
János Kubinszky, owner and founder of KTT, comments the acquisition: “Over the last decade, we’ve developed our contact with competitors in Hungary as well as in neighbouring countries in order to complete each other’s abilities. Being part of Axel Johnson International enables us to build up a value-adding approach towards the market with mutual benefits.”
For further information, please contact:
Ola Sjölin, Managing Director, Power Transmission Solutions
+46 706 67 24 68, firstname.lastname@example.org
Hans Glemstedt, Head of Group Strategy and M&A
+46 70 844 59 48, email@example.com
Axel Johnson International is a global industrial group of more than 150 companies in 30 countries. We drive business development and growth through a long-term approach to ownership in strategically selected niche markets, primarily technical components and solutions for industrial processes. Axel Johnson International is organised in six business groups: Driveline Solutions, Fluid Handling Solutions, Industrial Solutions, Lifting Solutions, Power Transmission Solutions and Transport Solutions. We are part of the Swedish family-owned corporate group Axel Johnson.