Eko Međimurje, a leading metal processor in this part of Europe, completed the process of acquiring a majority stake in the family-owned company Hittner for tractor production last week, according to a statement released on Monday, which did not disclose the transaction value.
The Hittner family remains co-owners as minority shareholders and is launching a new development cycle with their new partner, the statement from the two companies notes.
For the past 30 years, Eko Međimurje has been producing parts for a wide range of machines such as cabins, tanks, consoles, and fully assembled machines for large international companies – Liebherr, Komatsu, Caterpillar, Wirtgen, and Rubble Master, among others.
The company was founded in 1906, is headquartered in Šenkovec near Čakovec, and currently employs 420 people with an annual revenue of 250 million kuna. For some time now, alongside continuous business expansion and organic growth, it has been seeking a partner to achieve synergy and growth in new market segments.
Hittner is a family company producing forestry and agricultural articulated tractors, agricultural machinery, and spare parts and gears, which has evolved from a craft workshop to a successful private company with 90 employees since 1987.
Hittner plans to double its business in the next 5 years with significant investments in production processes, the development of new types of products, and new hiring, the statement notes.
