Parker Hannifin acquires Abex NWL, international aerospace components manufacturer.
According to Parker Bertea Aerospace Group President Stephen L. Hayes, "The $201 million Abex acquisition gives Parker the industry's most complete hydraulic line, including new market segments in engine-driven pumps, thrust-reverser actuator systems, and electrohydraulic servovalves, and will enable us to meet the increasing desires of our key customers to work with a limited number of suppliers who provide a broad range of products."
Abex recorded sales of approximately $200 million in calendar year 1995. With 1,290 employees worldwide, Abex has headquarters and manufacturing operations in Kalamazoo, Mich.; and plants in Dublin, Ga.; Beaufort, S.C.; Mainz-Kastel, Germany; and Yokohama, Japan.
Parker Hannifin is a $3.21 billion worldwide producer of motion-control components and systems for a wide range of industrial, automotive and aerospace markets.
CONTACT: Parker Hannifin Corp., Cleveland
Media - R.G. Charlton, 216/531-3000 xt. 2750
D.E. Logan, 216/531-3000 xt. 2752
Analysts - T.K. Pistell, 216/531-3000 xt. 2130
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 15, 1996|
|Previous Article:||North Fork Bancorp announces net income for 1996 first quarter.|
|Next Article:||Citation Corp. reports financial results.|