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In The News:

Parker Hannifin Buys Micro Thermo Technologies

Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, manufacturer of motion and control technologies, has acquired Micro Thermo Technologies of Quebec, Canada, from Carrier Corp. Micro Thermo Technologies is a manufacturer of refrigeration controls and energy management systems for supermarket applications.

Micro Thermo Technologies had sales of $10 million for the year ended Dec. 31, 2009, and employs 50 people. Sales will be reported in Parker's Climate and Industrial Controls reporting segment and the acquired company will be integrated into the Electronics business unit of Parker's Sporlan Division.

"This acquisition strengthens our ability to establish the most complete range of electronic and mechanical control systems for supermarket refrigeration and HVAC systems," said Tom Healy, president of Parker's Climate and Industrial Controls Group. "Micro Thermo Technologies has built a strong reputation for quality electronic controls in markets that are complementary to our Sporlan brand mechanical controls markets in North America. These combined capabilities extend our position as a systems provider to our customers and can help drive growth in this part of our business."

Parker Hannifin had sales of $10 billion in fiscal 2010.

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