Concentric AB appoints Fernando Palmero as Senior Vice President Hydraulics Division

Concentric AB has appointed Fernando Palmero as Senior Vice President Hydraulics Division. The appointment of Fernando from 1 August 2022 will be pivotal in executing the Group strategic plan, to deliver profitable growth in the hydraulics division, aligned to our electrification strategy, driving productivity improvements through the Concentric Business Excellence program.

Fernando holds an Industrial Engineering Degree from Universidad Politécnica in Valencia, Spain and is fluent in English, Spanish and German.

Martin Kunz, President and CEO of Concentric AB commented, “we are delighted that Fernando is joining the Group. Fernando brings a wealth of international leadership experience gained in the automotive sector and other engineering products markets. With a history of achieving commercial and operational excellence, Fernando will be a key member of the Group Senior Leadership Team”.

For additional information please contact Martin Kunz, telephone +44-121-445 6545.

Concentric AB is an innovator in flow control and fluid power, supplying proprietary systems and components to the world’s truck, agricultural machinery, construction equipment and industrial applications end-markets. The company has a global manufacturing presence including in the UK, USA, Germany, Sweden, India and China. Concentric’s focus is to develop world class technology with innovative solutions that meet the sustainability needs of our customers. Concentric offers engine products including lubricant, coolant and fuel pumps, hydraulic products encompassing gear pumps and power packs, and finally several key technologies for the fast growing market for electrical and hybrid powertrains. In 2021, The Group had a turnover of MSEK 2,115 and circa 1,100 employees. At the end of October 2021, The Group acquired Engineered Machined Products, Inc. ("EMP"), a leading US producer of electric and mechanical water and oil pumps, electric fans, thermal management systems and precision machined components. In 2021, EMP had over 400 employees and a turnover of  SEK 1,011 million. Including EMP for the whole year 2021, Concentric would have had a combined turnover of SEK 2,958 million.