Sun Hydraulics Corporation, a global industrial technology leader that develops and manufactures solutions for both the hydraulics and electronics markets, has announced the adoption of Helios Technologies as its new business name. The use of a new name for the parent holding company is in alignment with the company’s progress toward its Vision 2025 strategy, which is to achieve global technology leadership in the industrial goods sector by 2025 with critical mass exceeding $1 billion in sales while maintaining superior profitability and financial strength.
The use of the new name reflects the fact that the company now has several operating companies under its umbrella, one of which will remain Sun Hydraulics. The Sun Hydraulics business has joined the previously acquired Enovation Controls and Faster Group companies as wholly-owned subsidiaries of Helios Technologies, under the new holding company structure. Shares of Helios Technologies will continue to trade on Nasdaq using the company’s existing ticker symbol, SNHY.
“An integral part of our Vision 2025 is to recognize that the parent company is evolving and needs to remain independent from its operating brands,” says Helios Technologies’ President and Chief Executive Officer, Wolfgang Dangel. “The new name reflects a progression of the company’s corporate strategy, which encompasses a solid foundation of multiple brands committed to becoming a leading designer and manufacturer of intelligent systems and controls.
“In addition to our organic growth initiatives, a key component of our Vision 2025 is the smart acquisition of aligned companies to broaden our end market coverage in both hydraulics and electronics, and eventually with technologies that link those applications,” adds Dangel.
Along with the use of a new name, the company is also launching its new corporate website and domain at www.heliostechnologies.com.