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In 1957, the company purchased Hannifin, a producer of valve and cylinder products, and changed its name to Parker Hannifin. [10] Many more acquisitions followed, with the company reaching 40 acquisitions by the year 1979. [11] In 1953, Arthur Parker's son Patrick S. Parker began working full-time at the company. [12]
In December 2016, Parker Hannifin entered into a definitive agreement to acquire CLARCOR for approximately $4.3 billion in cash. [11] The acquisition was completed on February 28, 2017. [ 12 ]
Denison Hydraulics is a publicly traded U.S.-based company (Stock Symbol:DENHY) that manufactures industrial hydraulic fluid power systems (hydraulic pumps, motors, valves and engineered systems [1]) and components and is headquartered in Marysville, Ohio.
Parker-Hannifin (PH) is likely to benefit from strength across its end markets and acquired assets. The coronavirus outbreak-led market downturn and high debt level pose concerns.
Strength in OEM and MRO businesses in both commercial and military end markets is likely to be boost Parker-Hannifin's (PH) fiscal Q4 results. High integration cost related to acquisition is a drag.
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On April 29, 2019 it was announced that LORD Corporation would be acquired by Parker Hannifin for $3.675 billion. [15] The sale was approved by the boards of each respective company and closed on October 30, 2019.
Parker-Hannifin's (PH) acquisition of Meggitt expands its presence in the UK, positioning it well to provide a broader suite of solutions for aircraft, and aeroengine components and systems.