Wipro Pari makes strategic investment to acquire significant majority of Ferretto Automation & Services
Wipro Pari, the industrial automation business of Wipro Enterprises, announced it has signed a definitive agreement to acquire a significant majority share capital of Ferretto Automation and Services, a subsidiary of Ferretto Group based in San Polo — Reggio Emilia, Italy.
Ferretto Group continues to hold a minority participation in the project; Riccardo Ferretto will be the chairman and managing director of the new company and will be responsible for the overall business activities.
“Our industrial automation business has grown significantly in the last five years. We are already an acknowledged market leader in providing turnkey automation solutions for global automotive OEMs specifically in the emerging BEV – Battery Electric Vehicles and HFCV – Hydrogen Fuel Cell Vehicles.
This acquisition will help us expand our offerings beyond the in-factory automation solutions to both Industrial, CPG (Consumer Products Group), Retail and e-Commerce Warehousing, Storage and Automation solutions," said Pratik Kumar, CEO, Wipro Infrastructure Engineering (WIN) and Managing Director, Wipro Enterprises.
Ferretto Automation and Services is the Ferretto Group’s division that specializes in the design and manufacture of automated storage systems. Ferretto Group company has been in operations since 1956 and became a market leader in providing warehouse automation solutions across the world.
