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Parker Acquires Brazilian Manufacturer of Connectors and Instrumentation Products

Tuesday, December 2, 2008  
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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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