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Parker Extends Precise Medical Seal Capability; Acquires Hi-Tech Group Companies
CLEVELAND, April 4, 2008 /PRNewswire-FirstCall/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it has acquired all of the issued and outstanding shares of the capital stock of HTR Holding Corp. and its subsidiaries, including Hi- Tech Rubber, Inc., Inland Technologies, Inc., Ventrex, Inc. and Accusil, Inc. The acquired companies operate under their own names and under the trade names Hi-Tech Group, A.C. Hoffman Engineering and Infinity Plastics. Terms of the deal were not disclosed. HTR Holding Corp. sales for its fiscal year ended December 31, 2007, on a consolidated basis, were approximately $93 million. The acquisition is expected to be accretive to earnings within its first full year of operations and its sales will be reported as part of Parker's Industrial North America segment. More...
Assembly process capabilities range from simple
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