CLEVELAND, OH — ParkOhio, through its subsidiary, Supply Technologies, a provider of supply chain management services announced April 22 that it has completed the acquisition of NYK Component Solutions headquartered in SouthHampton, United Kingdom. NYK is a distributor of circular connectors and accessories for use in aerospace, defense, and other industrial applications. NYK will provide complementary product lines and new customer opportunities throughout Europe and North America. We expect annual sales from NYK to exceed $10 million and the acquisition to be immediately accretive to earnings.
ParkOhio is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. Headquartered in Cleveland, OH, ParkOhio operates more than 120 manufacturing sites and supply chain logistics facilities worldwide, through three reportable segments: Supply Technologies, Assembly Components and Engineered Products.