Parker
Hannifin has acquired Detroit Plasticos e Metais S/A (Detroit) of Sao Paulo, Brazil,
a manufacturer of high performance fittings, valves, manifolds, and
thermoplastic tubing. Detroit's products are used throughout Latin America in
oil and gas, petrochemical, pulp and paper, mining, transportation, steel,
construction and agricultural markets. The company employs 210 people and its
sales in fiscal year 2007 were approximately $17 million. The acquisition is
expected to be accretive to Parker's earnings in the first full year following
the closing of the transaction. The acquired company will become part of
Parker's Fluid Connectors business in Brazil with future sales reported as part
of the Industrial International segment. Terms of the transaction were not
disclosed. More…
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