Parker maintains focus on strategic acquisitions

Parker Hannifin has announced that it has acquired three companies whose total sales for their most recently reported fiscal years approaches USD1.5bn (GBP860m).

The three businesses that Parker has acquired - Legris, SA, Origa Group and Hargraves Technology Corporation - reflect the company's continuing goal of diversifying operations internationally, extending and complementing existing technologies, and taking advantage of opportunities in less cyclical end markets, such as life sciences.

'We continue to maintain our long-term focus on growth and positioning Parker for sustained financial performance,' said Don Washkewicz, chairman, chief executive officer and president.

'The acquisitions we have announced today bring us new technologies and market opportunities.

'They also signal an ongoing commitment to our growth strategy, managing our assets conservatively, and making appropriate use of cash flows.

Parker now has expanded pneumatic and hydraulic capability in Europe through Legris SA, headquartered in Rennes, France.

Origa Group is a manufacturer of rodless pneumatic actuators, electric actuators, filter regulator lubricators, pneumatic cylinders and valves used in the transportation, semiconductor, packaging and conveying markets.

Hargraves Technology Corporation of Mooresville, North Carolina, designs and manufactures miniature liquid and pneumatic diaphragm pumps, control valves and system solutions.

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