Wipro Infrastructure Acquires Aviation and Aero Component Manufacturer H R Givon of Israel
August 2016

Bangalore, India - August 1, 2016: Wipro Infrastructure Engineering (WIN) today announced that it has signed a definitive agreement to acquires H.R Givon Ltd. (Givon), an Israel-headquartered manufacturer of metallic parts and assemblies for the Aerospace industry, in an all-cash deal.

Givon manufactures structural parts and assemblies which form part of the fuselage, wings and empennage of an aircraft. The forty-six-year-old company is a certified Tier-1 supplier and counts leading global original equipment manufacturers among its customers. It has three manufacturing plants, two in Israel and one at Everett, Washington in the US.

This acquisition will help WIN broaden its product portfolio, expand global footprint and strengthen its ability to forge deeper customer relationships in the Aviation and Aerospace industry.

India is the largest buyer of Israeli military equipment while Israel is the second-largest defense supplier to India after Russia. Independent estimates put the potential offset opportunities at $10 billion and the acquisition of H.R Givon will strengthen WIN's ability to address this market.

WIN sees the Aerospace industry as strategic to its future. In 2013, WIN set up India's first Aerospace actuator manufacturing facility at the Devanahalli Special Economic Zone, near the Bangalore International Airport. Plans are on the anvil to expand into multiple product lines and enter into technology partnerships with leading Aerospace companies.

"We welcome Givon to the Wipro family. Givon has a strong tradition of technical expertise and enduring client relationships. I am confident that Wipro and Givon together will be a significant force in key markets. The synergies from our combined portfolio and locational proximity will be a key enabler to build and nurture successful customer relationships," said Pratik Kumar, Chief Executive Officer, Wipro Infrastructure Engineering.

"We are delighted with the opportunity to join hands with Wipro and this gives us an opportunity to bring to the market an expanded range of offerings," said Ronen Givon, Chief Executive Officer, Givon.

"We see cross-synergies in customer relationships, products and technology that can be leveraged to strengthen our presence in the growing Aerospace sector and become a partner of choice for global OEMs and Tier-1s," noted Sunil Rajagopalan, Business Head (Aerospace) of Wipro Infrastructure Engineering.

The acquisition is subject to customary closing conditions and regulatory approvals, which are expected to be completed in September 2016.

About Wipro Infrastructure Engineering

Wipro Infrastructure Engineering (WIN) is part of Wipro Enterprises (P) Ltd., and is a global Hydraulic solutions provider with expertise spanning over four decades. WIN specializes in designing and manufacturing custom Hydraulic Actuators and Precision Engineered Components for a variety of applications such as Aerospace, Construction & Earthmoving, Material & Cargo Handling, Forestry, Farm & Agriculture, Mining, Truck Hydraulics, Industrial Hydraulics and Defense. WIN also provides Concept-to-Component Additive Manufacturing services through Wipro 3D

WIN has a global workforce of over 1,700 and has 13 state-of-the-art manufacturing facilities spread across India, Europe, USA and Brazil, making it one of the largest Independent Hydraulic Actuator Manufacturers in the World. Its Aerospace manufacturing facility for Actuators and Precision Engineered Components is located at Bangalore, India.

About H.R Givon Ltd.

Founded in 1970 by Ruth and Haim Givon as a family owned business, H.R Givon Ltd. (Givon) has grown to be Israel's largest manufacturer of metallic aero structure parts and assemblies. In 2008 Givon's majority interest was acquired by FIMI, Israel's first and largest equity fund. Givon specializes in precision machining, sheet metal fabrication and mechanical assembly with main specialty in Titanium. With its fully integrated finish processing and significant engineering capabilities Givon is a state art, one stop shop which offers a unique value proposition.

Givon has a global workforce of over 290 and has three manufacturing facilities in Israel and the U.S. Givon is a direct supplier to leading global aerospace OEM's and tier 1 manufacturers and its products can found on the best selling and most advanced aerospace platforms.

Visit us at www.hrgivon.com/eng/

 

Increase in Share capital of Wipro Infrastructure Engineering S.A, Romania
December 2015

Anunt privind procedura de subscriere in cadrul majorarii de capital social al SC Wipro Infrastructure Engineering SA aprobate prin Hotararea AGEA nr. 4/10.12.2015

Announcement regarding the subscription procedure relevant to the share capital increase of SC Wipro Infrastructure Engineering SA, as approved by EGMS Decision no. 4/10.12.2015.

Hotarare AGEA + Procedura de subscriere

Anunt Perioade Subscriere

Wipro Adds a 3rd Dimension On the Quiet
October 2014
Mr. Premji speaks about Wipro Infrastructure Engineering at the launch of "Make In India" initiative
September 2014
WIPRO targets leadership in front-end tipping segment in India by 2016
August 2014
UBT- FET comparisons and capacities
August 2014
Wipro launches 3-way tipping system
February 2014
Conserving momentum through high performing cylinders
July 2013
Gov. Corbett makes jobs announcement in Brazil; 74 coming to Franklin County
April 2013

Bangalore, April 15, 2013: Governor Tom Corbett today announced during a roundtable discussion in Brazil that Wipro Infrastructure Engineering (Wipro), a hydraulic cylinder manufacturer, will establish a new U.S.-based manufacturing facility in Franklin County and create 74 new jobs.

Wipro is a leading independent solution provider in the area of Hydraulic Cylinders for the mobile equipment market globally and is a supplier of leading global equipment manufacturers in Asia, Europe and South America. The company will locate its first U.S.-based manufacturing facility in Chambersburg, resulting in the creation of 74 new jobs.

“My goal for this Jobs 1st Mission is to develop new business growth for the state and to strengthen our international trade relationships with Brazil and Chile,” Corbett said. “I will continue working throughout this mission to connect our businesses with new markets and meet directly with other potential companies that are looking at investing and creating jobs in Pennsylvania.”

Corbett’s announcement continued the Governor’s Jobs 1st Mission to Brazil and Chile. The mission is focused on growing the Pennsylvania economy and creating jobs through export promotion, investment attraction, building relationships to increase port traffic, international student recruitment and promoting Pennsylvania as a world class destination for tourism.

The three-city, two-country mission, privately funded by Team Pennsylvania Foundation, is scheduled for April 6-16 and will include stops in the Brazilian cities of São Paolo and Rio de Janeiro, along with Santiago, Chile.

For more information on the Governor’s 2013 Business Trade Mission to Brazil and Chile, visit www.paglobal.org.

Wipro unveils India’s first Aerospace actuator plant
February 2013

Bangalore, February 5, 2013: Wipro Infrastructure Engineering, the global hydraulics business of Wipro Limited (NYSE:WIT), today unveiled India’s first-ever aerospace actuator manufacturing facility at the Devanahalli Special Economic Zone near Bengaluru International Airport.

In the first phase, the plant set up in a 7.2 acre campus with an initial investment of Rs 650 million, will have an initial capacity to produce 2,000 actuators a year. The existing infrastructure allows for expansion of the capacity up to 8,000 actuators per annum.

Industry estimates put the global actuator systems market at $3 billion. Aerospace actuators have various applications in an aircraft, including landing gear, flight control systems, engines and utilities.

The facility was inaugurated earlier today by Wipro Chairman Mr. Azim Premji in the presence of Dr.Klaus Richter (Executive Vice President - Procurement Head EADS/Airbus), M.N.Vidyashankar (Principal Secretary – Commerce & Industry, GOK) and other eminent dignitaries from the Aerospace industry.

“Our vision is to build a significant presence in the Aerospace and Defence market, leveraging on our experience and competence in precision engineering and machining space. Going forward, we see significant opportunities from this business,” said Pratik Kumar, President, Wipro Infrastructure Engineering.

In May 2011, Wipro Infrastructure Engineering signed an agreement with Spanish company CESA (Compania Espanola de Sistemas Aeronauticos S.A.), a subsidiary of the global Aerospace and Defence Corporation, EADS, for the manufacture of precision engineering components.

The pact involves transfer of technology as well as manufacturing aerospace actuators and related precision engineering components by Wipro for CESA.

Wipro Infrastructure Engineering plans to double the initial investment over the next six years to expand capacity and add new product lines in precision manufactured components.

“We have ambitious plans for this business and are in talks with several players to develop multiple product lines. Our facility, with end-to-end capabilities from product development, manufacturing to testing, is well positioned to partner global OEMs/tier-Is, who are looking to extend their supply chains to cost-competitive countries like India and also to meet their Offset obligations,” said Sunil Rajagopalan, Business Head for Wipro Infrastructure Engineering – Aerospace and Defence.

The unit will commence serial production in April.

For Further Information, please contact:

Media
Vipin Nair
+91 80 39916154
Vipin.nair1@wipro.com

Investors
Aravind Viswanathan
+91 80 3991 6143
aravind.viswanathan@wipro.com

Wipro Charts a New Course
November 2012

November 1, 2012, Bangalore, India: The Board of Directors of Wipro Limited in their meeting held today, approved the demerger of the Wipro Consumer Care & Lighting (including Furniture business), Wipro Infrastructure Engineering (Hydraulics & Water businesses), and medical diagnostic product & services business (joint venture with GE Healthcare), into a separate company to be named Wipro Enterprises Limited. Wipro Limited will remain a publicly listed company that will focus exclusively on information technology. Wipro Enterprises Limited will be an unlisted company.

In fiscal year 2011-12, the IT business contributed to 86% of revenue and 94% of operating profit of Wipro Limited. The demerger is anticipated to provide fresh impetus for both Wipro Limited and Wipro Enterprises Limited to pursue their individual growth strategies. The demerger is also expected to improve the competitiveness in their respective markets.

The Board of Wipro Limited will remain unchanged, and the demerger will have no impact on the management structure of Wipro Limited. Wipro Enterprises Limited will constitute a separate Board of Directors upon completion of the demerger. There will be no change in the leadership of any of its constituent businesses. Wipro brand will be jointly owned by both the companies.

Azim Premji will remain Executive Chairman of the Board of Wipro Limited and will assume the position of Non-Executive Chairman of Wipro Enterprises Limited. “I am confident that the demerger will enhance value for our shareholders, and provide fresh momentum for growth. Each of our distinct businesses is best of breed in its respective industry, and we are committed to both the businesses,” said Azim Premji, Chairman, Wipro Limited.

“Creating a technology-focused company will allow us to better serve the needs of our customers, and accelerate investments necessary to capitalize on market growth opportunities” said TK Kurien, CEO, IT Business and Executive Director, Wipro Limited.

“The businesses of Wipro Enterprises Limited are diverse, and this demerger gives them an opportunity to pursue their independent growth plans. I believe the demerger scheme reflects a high standard of governance, transparency and fairness for all stakeholders”, said Suresh Senapaty, CFO and Executive Director, Wipro Limited.

Wipro has constituted a special committee of its board of directors to oversee the planning and execution of the demerger plan. The special committee comprises independent directors N. Vaghul, Bill Owens and M. K. Sharma.The appointed date for the demerger is opening of business hours on April 1, 2012, and the demerger is expected to be completed by the next fiscal year. This demerger is subject to Indian court approval and regulatory approvals.

According to the restructuring scheme as currently proposed, resident Indian shareholders of Wipro Limited on the record date can choose from multiple options as per their investment objectives. They may opt to:

  (i)    receive one equity share with face value of Rs.10 in Wipro Enterprises Limited for every five
         equity shares with face value of Rs.2 each in Wipro Limited that they hold; or
  (ii)   receive one 7% Redeemable Preference Share in Wipro Enterprises Limited, with face value of
         Rs.50, for every five equity shares of Wipro Limited that they hold; or
  (iii)  exchange the equity shares of Wipro Enterprises Limited and receive as consideration equity
         shares of Wipro Limited held by the Promoter. The exchange ratio will be 1 equity share in
         Wipro Limited for every 1.65 equity shares in Wipro Enterprises Limited.

   Each Redeemable Preference Share shall have a maturity of 12 months and shall be redeemed
   at a value of Rs.235.20

Non-resident shareholders (excluding ADR holders) and the ADR holders on the record date would be entitled to receive equity shares of Wipro Enterprises Limited in the aforesaid ratio. The Non-resident shareholders (excluding ADR holders) shall further have the option to exchange the Wipro Enterprises Limited equity shares that they are entitled to and receive equity shares of Wipro Limited held by the Promoter in the aforesaid ratio.

According to the restructuring scheme as currently proposed, the Wipro Enterprises Limited equity shares that the ADR holders would otherwise be entitled to receive shall be compulsorily exchanged for equity shares of Wipro Limited held by the Promoter in the aforesaid ratios. Subject to receipt of all Indian and U.S. approvals / exemptions, the ADR holders will be issued additional ADRs representing the Wipro Limited equity shares that they would otherwise receive pursuant to the scheme of arrangement. Where such approvals/exemptions are not forthcoming or are not received prior to the record date for the demerger, we expect that the depository with respect to the ADRs, will subject to compliance with applicable laws and the terms of the deposit agreement, sell the equity shares of Wipro Limited that ADR holders would otherwise be entitled to receive and distribute the proceeds thereof to the ADR holders.

The demerger is anticipated to also assist Wipro Limited in increasing public float for the purpose of the meeting the minimum public shareholding requirement under clause 40A of its listing agreement subject to SEBI approval.

The Valuation process was jointly undertaken by Deloitte Touche Tohmatsu India Private Limited and N. M. Raiji& Co, while fairness opinions were provided by JM Financial and Citigroup. JM Financial also acted as the sole financial advisor to Wipro Limited.

Forward-looking and Cautionary Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Statements in this News Release which contain words or phrases such as 'will', 'would', 'aim', 'likely', 'will likely result', 'believe', 'expected', 'will continue', 'anticipate', 'estimate', 'enable', 'enabling', 'intend', 'plan', 'contemplate', 'seek to', 'future', 'objective', 'goal', 'project', 'should', 'will pursue' and similar expressions or variations of such expressions may constitute 'forward-looking statements'.

Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results suggested by such statements. Such risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy and the Demerger, our growth and expansion in business, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

JM Financial – JM Financial Institutional Securities Private Limited
Citigroup – Citigroup Global Markets India Private Limited

Wipro Rings the Closing Bell at the New York Stock Exchange
May 2012

Wipro was invited to the New York Stock Exchange on Friday, 18th May 2012. On the occasion, Chairman Azim Premji rang the NYSE closing bell. The New York Stock Exchange's (NYSE) opening and closing bells mark the beginning and the end of each trading day. At 4pm, the closing bell is rung and trading for the day stops. The act of ringing the bell is an honor and a symbol of achievement.

Associated Press, Reuters and Bloomberg covered this event. You can see the photos and video of the bell ringing by connecting with NYSE Euronext or Facebook or Youtube.

Wipro and Kawasaki enter into a Joint Venture
December 2011

Wipro Infrastructure Engineering, the global hydraulics business of Wipro Limited (NYSE:WIT) today announced that it has signed a joint venture contract with Kawasaki Heavy Industries in India to set up a large manufacturing facility for the manufacture of hydraulic pumps for excavators. The joint venture will be called Wipro Kawasaki Precision Machinery Pvt. Ltd. and will entail an investment of Rs. 500 Million, with an initial capacity of 4,000 pumps which would be augmented to 15,000 pumps by 2015.

Wipro Infrastructure Engineering is the world's largest independent manufacturer of hydraulic cylinders. The new manufacturing unit to be set up at Bangalore will be its eleventh manufacturing location globally.

Kawasaki's Precision Machinery Company, part of the US$16 Billion dollar Kawasaki Heavy Industries Group, manufactures hydraulic components and equipment used in construction machinery as well as motor cycle, aircraft, rolling stock, ships, industrial robots, plants and equipment etc. Kawasaki manufactures a wide range of products, from hydraulic pumps, motors, actuators, valves and other hydraulic components, to hydraulic systems for machines and plants of all kinds, as well as hydraulic deck machinery, electro-hydraulic steering gear, hydraulic fishing machinery, and various other applications.

Commenting on this partnership Mr. Pratik Kumar, President of Wipro Infrastructure Engineering said "Kawasaki is an established global leader in the Hydraulics industry. We are excited with this partnership which will help us to jointly bring leading edge technology products to our customers in this very promising growth market. With this partnership, we will be able to expand our product portfolio in the hydraulic segment. The localization will offer improved time to market advantage and enhanced customer service."

Mr. Makoto Sonoda, President of Kawasaki Precision Machinery Company said "We are very happy to partner with Wipro in this venture. India is a very important growth market for us – Wipro and Kawasaki will together bring its combined strengths to bring superior hydraulic products to our customers in this region"

The overall Construction Equipment market in India is likely to grow to US $20 Billion by 2020-21. Wipro and Kawasaki intend to tap the growth potential in the Indian market with multiple mega-infrastructure projects planned by various public-private sectors, making high quality excavator pumps available at a competitive price.

The manufacturing facility will produce hydraulic pumps for excavators catering to a range of 7 ton to 20 ton excavators. The plant located at Bangalore will start operation in July 2012 and will localize the production of the hydraulic pumps to a large extent.

For Further Information, please contact:


Media

India

Chaya Ganapathy, Wipro Limited
+91 9986447005
chaya.ganapathy@wipro.com

Investors

Mr. Aravind Viswanathan,
Investor Relations, Wipro Limited
+91 – 80 – 39916143
aravind.viswanathan@wipro.com

Wipro Infrastructure Engineering establishes manufacturing footprint in Brazil
May 2011

Wipro Limited today announced that the company has signed anagreement to acquire majority stake of Brazil based Hydraulic Cylinder manufacturer R.K.M.EQUIPAMENTOS HIDRÁULICOS LTDA. Subject to customary regulatory approvals, the acquisition isexpected to be completed during the quarter, Wipro said in a notice to the stock exchange.

The acquisition will be a part of Wipro's Infrastructure Engineering division. Wipro Infrastructure Engineering is a global leader in precision engineered hydraulic cylinders and components. It is a Tier-1supplier to global Original Equipment Manufacturers (OEMs) of construction and earth moving machinery, material handling equipment, forestry equipment, heavy and medium commercial vehicles among other industries, across Asia and Europe.

Mr. Pratik Kumar, President – Wipro Infrastructure Engineering, commenting on this development said that "Brazil is an extremely attractive market for us.. driven by a high growth economy and huge investments in infrastructure over the next few years. RKM provides us an ideal platform to expand and extend our portfolio of offerings in the Brazilian market and well as rest of the Latin America. We are extremely impressed by the management team of RKM and their vision in creating one of the finest hydraulic cylinder operations."

Mr. Jose Luiz Ramos, CEO of R.K.M. EQUIPAMENTOS HIDRÁULICOS LTDA commented "The RKM team welcomes this development and looks forward to being a part of Wipro's growth journey. The partnership with Wipro Infrastructure Engineering will give us a wider customer access and expansion opportunities into new end equipment segments."

Wipro Infrastructure Engineering enters China
June 2010

Nummi Tipping Hydraulics under the Wipro fold
November 2008

Download Newsletter

Name
Email