Parker Hannifin Makes Three Acquisitions

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October 1, 2008

Parker Hannifin Makes Three Acquisitions

Parker Hannifin Corp., Cleveland, OH, manufacturer in motion and control technology, has acquired three companies whose total sales in the most recent fiscal year approached $500 million.

The three businesses that Parker acquired are: Legris, SA; Origa Group; and Hargraves Technology Corp. According to Parker, the acquisitions reflect the company's goal of diversifying operations internationally, extending and complementing existing technologies, and taking advantage of opportunities in less cyclical end markets, such as life sciences.

Legris SA, Rennes, France, is a manufacturer of fluid circuit components and systems for pneumatic, hydraulic, and chemical processing applications. These products are typically used in automotive process, transportation, agricultural machinery, food processing, construction and shipbuilding industries. In 2007, Legris recorded revenues of 233 million euros (approximately $340 million). Legris sales will be recorded within the Industrial International (90%) and Industrial North America (10%) segments of Parker's global fluid connectors group.

Origa Group is a manufacturer of rodless pneumatic actuators, electric actuators, FRLs (filter regulator lubricator), pneumatic cylinders, and valves used in the transportation, semiconductor, packaging and conveying markets. Its most recently reported annual sales were 67 million euros (approximately $98 million). The Group employs 350 people and has major operations in Filderstadt, Germany, Wiener Neustadt, Austria, Glendale Heights, IL, and smaller facilities in other international locations.

Hargraves Technology, Mooresville, NC, is a leader in the innovative design and manufacture of miniature liquid and pneumatic diaphragm pumps, control valves and system solutions. These products control movement and direction of precise amounts of fluid in medical devices and life science analytical instrumentation as well as diagnostic, gas detection, and printing systems. Hargraves' sales for the fiscal year ending Dec. 31, 2007 were $14 million.

Parker Hannifin has annual sales of more than $12 billion.

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