Parker Hannifin, Cleveland, OH, completed its acquisition of ITR SpA, a subsidiary of the Saiag Group, for Euro 77 million in cash ($68 million).
Parker Hannifin Parker Hannifin Corporation (originally Parker Appliance Company) NYSE: PH, of Cleveland, Ohio, is a manufacturer of motion and control technologies. Founded in 1924, the company has been publicly traded on the NYSE since December 9, 1964. , Cleveland, OH, completed its acquisition of ITR See Internet Talk Radio. SpA, a subsidiary of the Saiag Group, for Euro 77 million in cash ($68 million). ITR is an Italian manufacturer of hose, fittings and rubber compounds for hydraulic, industrial and oil/gas applications. ITR had sales of approximately Euro 165 million ($147 million) in 2000, and has seven production facilities in Italy, Brazil and China. Parker Hannifin has acquired the operations of Houston, TX-based IPS (1) (Inches Per Second) The measurement of the speed of tape passing by a read/write head or paper passing through a pen plotter.
(2) (IPS) (Intrusion Prevention S Industrial Profile Systems for an undisclosed amount of cash. IPS manufactures specialized spe·cial·ize
v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es
v.intr.
1. To pursue a special activity, occupation, or field of study.
2. structural systems used in factory automation, machine building, safety enclosures and assembly workstations.
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| | Comment: | Parker Hannifin, Cleveland, OH, completed its acquisition of ITR SpA, a subsidiary of the Saiag Group, for Euro 77 million in cash ($68 million). |
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| Publication: | Rubber World |
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| Article Type: | Brief Article |
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| Geographic Code: | 1USA |
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| Date: | Feb 1, 2002 |
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| Words: | 99 |
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