Home / Today's Top Stories / Parker Hannifin buys seals supplier

Parker Hannifin buys seals supplier

Parker Hannifin Corp. has acquired Advanced Products Co., a privately held manufacturer of metallic and polymer spring-energized seals, in a cash-for-stock transaction.
Terms of the deal, announced Wednesday, were not disclosed.
Parker Hannifin has annual sales of more than $7 billion and employs more than 48,000 people in 46 countries. The company has plants in Lyons and Clyde, which employ some 650 workers.
Advanced Products will be integrated with Parker Hannifin’s Seal Group, which provides sealing materials to a broad range of motion and control markets worldwide.
With operations in North Haven, Conn., and Boom, Belgium, Advanced Products employs 150 people worldwide and has annual sales of some $20 million.
“We have enjoyed being a customer of Advanced Products for seals formerly not available in our product line,” said Heinz Droxner, president of Parker Hannifin’s Seal Group. “Now we look forward to the opportunities presented by combining their leading technologies, particularly in high-temperature resilient metallic seals, with our global marketing and distribution capabilities.”

(c) 2004 Rochester Business Journal. Obtain permission to
reprint this article.

Parker Hannifin buys seals supplier

Parker Hannifin Corp. has acquired Advanced Products Co., a privately held manufacturer of metallic and polymer spring-energized seals, in a cash-for-stock transaction.

x

Check Also

Rendering of Dick's Sporting Goods' new concept store at Eastview Mall. (Photo provided)

Dick’s bringing its first ‘concept’ store to Eastview (access required)

If brick and mortar retail is going the way of phone booths and one-hour photo labs, progress forgot to tell ...

2021 Best Law Firms

U.S. News & World Report – Best Lawyers released its annual list of Best Law Firms and the following local ...

John Cothran, a real estate investor from South Carolina, closed on the purchase of 600 East Ave. this past fall without ever visiting the property. (photo by Kevin Oklobzija).

When it comes to commercial real estate lending, banks are open for business (access required)

The coronavirus pandemic has devastated the hospitality industry and exacerbated on some fronts the continuing decline of brick-and-mortar retail, but ...