Motion and control technology manufacturer Parker Hannifin Corp.(NYSE: PH), Cleveland, OH, has acquired Jäger Automobil-Technik GmbH and Jäger Automotive Polska Sp. z.o.o. from Arnold Jäger Holding GmbH, Hannover, Germany. Terms were not disclosed.
“This acquisition will strengthen Parker’s position in world-wide sealing markets,” said Jennifer Parmentier, vice president and president – engineered materials group. “The addition of Jäger Automobil-Technik and Jäger Automotive Polska provides Parker with innovative injection molding technology and businesses with a strong reputation in the automotive industry.”
The acquired businesses combined have annual sales of $45 million and 250 employees. Their products are used to seal and protect key components of automotive systems.
The acquisition will become a business unit of Parker’s Prädifa Technology division in the engineered materials group and all revenues will be reported in the diversified industrial segment.