This week, Hydroscand Group announced a divestment of Hydroforming Design Light AB (HDL) to PVI Tube Forming AB, a company within PVI Industries. HDL has been a subsidiary of Hydroscand Group since 2005. HDL offers optimal forming solutions for sheet metal and pipe details, primarily for the automotive industry.
According to the agreement, all of Hydroscand's shares in HDL will be acquired by PVI Industries. HDL will be part of PVI's Group and PVI will continue to develop HDL’s
This divestment is in line with Hydroscand’s strategy to strengthen Hydroscand’s core business and profitability.
"I am pleased that we have signed an agreement to sell HDL as this is in line with our focus to further improve core business and profitability of our company” says our CEO Frida Norrbom Sams. “I also believe we have found a good owner in PVI, who will support in further long-term development of HDL’s continuous product innovation”.
The transaction was completed on November 30, 2020.