Latest In Parker Hannifin

Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7% from the same quarter a year ago.
 
Profit increased 9.8% to $211.9 million from the same quarter a year ago.
 
Of the 12.7% sales growth this quarter, 4.9% was organic, 2.9% was the result of strategic acquisitions, and the remainder was from the effects of foreign currency exchange rates.
 
The company made four strategic acquisitions this quarter, adding $223 million in sales. These acquisitions included electrical and production umbilical cables for subsea oil and gas installations; further expansion of aerospace components and equipment capabilities; ...

Parker Hannifin, Cleveland, OH, has acquired Rectus AG, a manufacturer of quick disconnect couplings and related products for pneumatic, hydraulic, medical and chemical processing applications.
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The company had revenues of about $115 million in 2006. It employs 380 people worldwide including its headquarters in Nussdorf, Germany, its Nycoil operation in Randleman, NC, its TEMA operation in Skovde, Sweden, and several international sales offices.
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Rectus will operate within the Industrial North America and Industrial International segments of Parker's global fluid connectors business.
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With annual sales exceeding $9 billion, Parker Hannifin is a diversified manufacturer of motion and control technologies and systems for a wide variety of ...