India, Oct. 5 -- German investment company INDUS Holding AG (INH.DE), announced on Monday that it has sold its 100% stake in hydraulic block maker MEWESTA Hydraulik GmbH & Co. KG to Lange Beteiligungen GmbH, a family-run industrial group based in Mehrstetten.
MEWESTA, which develops hydraulic control blocks for machinery and plant engineering, employs 44 people and generates annual sales of about 5 million euros.
Lange Group, which specializes in precision manufacturing of components for the machinery industry, said the acquisition offers complementary portfolios and geographic proximity, creating growth potential.
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INDUS said the sale is part of its "Em...