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In The News:

Parker Hannifin Acquires Brazilian Filter Manufacturer

Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, manufacturer of motion and control technologies, has acquired HDA Acessorios e Equipamentos Ltd. of Sao Paulo, Brazil. HDA is a manufacturer of hydraulic filters and accessories used in the mobile equipment, industrial and agriculture markets with offices and a manufacturing location in Sao Paulo.

HDA has annual sales of $10 million and employs 88 people. Sales will be reported in Parker's Industrial reporting segment and the acquired company will be integrated as a business unit within the Parker Latin America Group.

"This acquisition will allow us to establish a presence in the local hydraulic filter market and offers us a new distribution channel that can complement Parker's existing distributor network throughout the region," said Ricardo Machado, president of Parker's Latin America Group. "In addition, HDA enjoys a good reputation in the market and helps us achieve our goal of broadening our offering of products to these critical end markets."

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

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