for the residential and commercial air conditioning and refrigeration markets. Parker plans to operate the unit as a new division of its Climate and Industrial Controls business, with a focus on growth. Eaton said it made the decision to sell the AC&R business because it does not fit the company's long-term strategic objectives. The business became a part of Eaton when the company acquired Aeroquip-Vickers, Inc. in 1999. Eaton retains exclusive rights to the Aeroquip brand name.
Parker Hannifin Corporation, Cleveland, OH, reported orders for the month of August in the company's North American Industrial business decreased 25 percent from the same month last year, while the Rest-of-World Industrial segment decreased six percent. At Parker Aerospace, orders were 11 percent higher than last year.
Gardner Denver, Inc., Quincy, IL, has signed a definitive agreement to acquire Hoffman Air and Filtration Systems, Syracuse, NY, from Invensys plc. Hoffman is a supplier of multistage centrifugal blowers and vacuum systems, primarily for wastewater treatment and industrial applications. For the year ended Mar. 31, 2001, Hoffman's revenues were $41 million. Purchase price is approximately $45 million. Gardner Denver also completed the acquisition of Hamworthy Belliss & Morcom, Gloucester, England, at a price of $38 million. Gardner Denver, with 2000 revenues of $379 million, is a manufacturer of reciprocating, rotary and vane compressors and blowers for various industrial applications and pumps used in the petroleum and industrial markets.
Dana Corporation, Toledo, OH, has completed the sale of its industrial polymer bearings businesses to Goodrich Corporation, Charlotte, NC. The transaction included the sale of industrial polymer bearings manufacturing operations in Kilmarnock, Scotland; Annecy, France; and Dolny Kubin, Slovakia; the Glacier Industrial Bearings Division, including its manufacturing operations in Heilbronn, Germany; and Sao Paulo, Brazil; a bushing block manufacturing facility in Dieuze, France; Dana's interest in Garlock Bearings LLC; and certain research and development assets relating to industrial polymer bearings products located in Cawston, England. As a result of the sale, Dana will record a one-time, non-recurring gain of approximately $11 million after tax in the third quarter of 2001. Pro forma sales for the divested operations were approximately $100 million in 2000. The sale did not include Dana's engine bearing business.
Hagemeyer, Naarden, the Netherlands, said its Professional Products and Services (PPS) division achieved critical mass in North America in 2001 with the inclusion of CamBar. As a result, the structure of the North American group changed fundamentally and the businesses are in the process of being integrated. Hagemeyer organizes its PPS division on a geographical basis with three regions: Europe, North America and Asia-Pacific. North America net sales for the six months ended Jun. 30 were EUR 883.1 million, an increase of EUR 544.0 million or 160% as compared to the prior year. Because of integration, comparison with the prior year is not meaningful.
Prophet 21, Inc., Yardley, PA, reported revenues for the 12-month period ended Jun. 30, 2001 were $40.8 million as compared to $46.1 million for the same period a year ago. Net loss for the 12 months was $2.2 million, as compared to net income of $0.6 million for the same period a year ago. Revenues for the fourth quarter of fiscal 2001 were $10.8 million, as compared to $13.4 million reported in the quarter one-year prior. Net loss for the quarter was $0.5 million, as compared to net income of $0.8 million in the like period a year ago.