Mishawaka-based Daman Products Inc. is undergoing operational and structural changes, following its acquisition last fall. The parent, Florida-based Helios Technologies Inc. (NYSE: HLIO), says it is expanding Daman’s plant by 50,000 square feet and will be adding a “significant number of employees.”
The expansion is part of Helios’ business plant to create a Center of Excellence at the Mishawaka plant. The CoE will be the centralized location for North American manifold and integrated package operations.
In September, Helios announced it was acquiring Daman for an undisclosed amount. Daman specializes in the design and manufacture of hydraulic valve manifolds and related products for industrial and mobile markets such as the oil and gas, railroad, and construction industries.
“Daman has established long-term relationships with a diversified customer base serving multiple end markets. They bring a differentiated value proposition through sophisticated inventory programs that reduce supply chain delays and enable rapid delivery. They also leverage a strong engineering team that works closely with customers and distributors to design custom-tailored solutions for many applications and standard manifold designs,” said Josef Matosevic, Helios’ President and CEO.
Helios says the expansion will allow for organic growth of Daman’s core business. It will also assume manifold machining operations from another Helios subsidiary.
The relocation of manifold operations to Daman is expected to be completed by the third quarter of 2023.