Parker Hannifin buys Rectus AG
Industrial Distribution staff -- Industrial Distribution, 4/3/2007 3:06:00 PM
Parker Hannifin Corp. has bought Rectus AG, a German-based manufacturer of couplings that connect pipes and hoses used in the transmitting of gas or liquids. Terms of the deal were not disclosed.
Parker Hannifin officials said 2006 revenue for Rectus was approximately $115 million. In addition to its foreign locations, Rectus has operations in Randleman, N.C. Globally, they employ about 380 people.
Bob Bond, president of Parker's Fluid Connectors Group, said the acquisition significantly strengthens the company's European position.
'Their products and systems are widely available through a select distribution network and add to our ability to provide customers with [a] complete package of fluid handling technologies,' he said in a statement.
Headquartered in Cleveland, Parker Hannifin is a
manufacturer of industrial motion control systems and a provider of
precision-engineered solutions.
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