CLEVELAND (AP) _ Parker Hannifin Corp., which makes motion and control devices, said Monday it had acquired some fluid management assets owned by Dayco Industrial for undisclosed terms.
The assets being acquired generated $304 million in sales last year and include Dayco’s Imperial-Eastman products and a line of hydraulic and industrial hoses and connectors.
Parker will integrate the acquired operations, which have 2,365 employees in 29 facilities in the United States, Canada, Australia and Britain, into its fluid connectors business.
Cleveland-based Parker Hannifin has 45,000 employees in 45 countries and $6 billion in annual sales.
In trading Monday on the New York Stock Exchange, Parker Hannifin shares rose 82 cents to close at $37.70.
On the Net:
Dayco Industrial: http://www.dayco.com
Parker Hannifin: http://www.parker.com