Hyva, a global leader in loading and unloading hydraulic solutions serving the commercial vehicle and environmental services industries, has recently completed buying 75% equity of Usimeca, a leader in Waste Handling Solutions in Latin America, with its headquarters in Brazil.
Hyva is the undisputed market leader in Front-End Tipping Solutions in the world as well as South America and through its two plants in Brazil, is producing cylinders, wetkits, and articulated cranes. This acquisition enables the company to take the leadership in Waste Handling in the South American market too.
Alex Tan, CEO of Hyva, commented: "Usimeca, with the strongest footprint in Waste Handling Solutions across Latin America, is appreciated for its quality products and the application of proven technologies to accomplish cleaner and healthier towns. I'm proud this company is now part of our Hyva family, providing us with the best Waste Handling Solutions platform to grow in the region."
Cesar Moreira, current CEO and 25% shareholder of Usimeca will continue as CEO of the company following the acquisition. He said: "We have about 35% of the Waste Handling market in Brazil and through the acquisition of Hyva, we can reach the scale to meet the terrific growth opportunity across Latin America".
Rogerio De Antoni, Vice President Americas of Hyva commented, "By increasing our product offering, we are now able to meet the demand in the fast-growing industry of environmental services. The initial feedback from the market is encouraging, so we expect our presence in Latin America to be further increased."
The Waste Management business is expected to reach around 485 billion USD globally by 2025 (source: ReportBuyer). Hyva's Waste Handling Solutions business is expected to grow double digit annually in the next few years.
Products designed by Usimeca will be exported to other parts of the world. Hyva's Waste Handling and Container Handling Solutions will be made available in Latin America. Hyva and Usimeca will share best practices in manufacturing processes.