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Parker Acquires Sempress of the Netherlands; Leader in Automation Specialty Products.

CLEVELAND--(BUSINESS WIRE)--April 1, 1998--Parker Hannifin Corporation announced today that is has acquired Sempress Pneumatics located near Rotterdam, the Netherlands, a leader in producing pneumatic cylinders and valves for specialized customer applications in automation processes. The cash-purchase price was not disclosed.

The company's sales for calendar year 1997 were $17 million. Sempress operates out of a 108,000-square-foot facility in Rotterdam, with 109 employees, and sales offices in Germany, Belgium, France, Spain and Canada employing 33 people.

Sempress will become part of Parker's Automation Group, headed by John Oelslager, Group President. Oelslager says that "Sempress has emerged during the '90s as a new leader in serving the automation industry, and will now become an important part of this growing segment of Parker's industrial business."

Parker Hannifin is a worldwide leader in the production of motion and control components for hundreds of industrial and aerospace markets, achieving sales of more than $4 billion in fiscal 1997. For more information about Parker, visit the company Web site at www.parker.com.

CONTACT: Parker Hannifin Corporation

Media - R.G. Charlton, 216/896-2750

- D.E. Logan, 216/896-2752

Financial Analysts - T.K. Pistell, 216/896-2130
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Publication:Business Wire
Date:Apr 1, 1998
Words:192
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