Sun Hydraulics Announces Merger of High Country Tek with Enovation Controls
Sarasota, FL – September 15, 2017 –Sun Hydraulics Corporation (NASDAQ: SNHY) has announced the forthcoming merger of High Country Tek (HCT), a subsidiary of Sun Hydraulics Corporation, with Enovation Controls, also a subsidiary of Sun Hydraulics Corporation. The merger is scheduled to take place on December 31, 2017. On that date, all High Country Tek business will be transacted through Enovation Controls with operations based in Tulsa, Oklahoma, and engineering services from San Antonio, Texas. Until that date, HCT will continue to operate from their facility in Nevada City, California, with the same contact information.
“This merger will leverage the power of our combined manufacturing and engineering resources which will greatly benefit customers in our shared market space,” said Wolfgang Dangel, Sun's President and CEO. “The combined company will also complement Sun Hydraulics business direction for systems integration, now with the full force of Enovation Controls' larger infrastructure and product development capabilities, while providing technologically advanced, reliable and robust system solution building blocks on the market.”
Sun Hydraulics is a leading designer and manufacturer of high-performance screw-in hydraulic cartridge valves, manifolds and integrated package solutions for worldwide industrial and mobile markets.
About Enovation Controls
Enovation Controls is a leading global provider of electronic control, display and instrumentation solutions for both recreational and off-highway vehicles, as well as stationary and power generation equipment. For more information, please visit their website at www.enovationcontrols.com.