Parker Acquires PIX Transmissions Ltd.
The acquired business has annual sales of approximately $13 million, employs 470 people and includes a recently upgraded $25 million state-of-the-art manufacturing plant in Nagpur. The division will be integrated into Parker's Fluid Connectors Group and the sales will be reported as part of the International Industrial Segment.
“The acquisition of the PIX hose and fittings business will allow us to solidify our position in India which is a strategically important growth market, while establishing an important base to support growth in the region,” said Bob Bond, president of Parker’s Fluid Connectors Group. “PIX offers us complementary product lines and manufacturing capacity to accelerate growth and localize manufacturing for other products serving customers in India.”
|Parker Hannifin Corporation|