CLEVELAND, OH ‚â€“ Parker Hannifin Corporation (NYSE: PH) announced that it has acquired Titan Industries, a manufacturer of industrial rubber, custom made and composite hoses for fluid and material transfer as well as related products, services, and accessories. Headquartered in South Gate, California, Titan has additional locations in Houston, Texas and Salisbury, North Carolina, and employs 150 people. Titan Industries achieved sales of $28 million last year. The acquisition of Titan strengthens Parker‚â€™s position as an industry leader in the industrial hose market by substantially expanding the product offering and providing entrance into the marine, aircraft, food and dock side refueling markets. The acquisition is expected to be accretive to earnings within its first year of operation. Titan‚â€™s results will be reported within the Industrial North America segment. Terms of the deal were not disclosed.
Titan will be integrated into the Industrial Hose Products Division, part of Parker‚â€™s world wide Fluid Connectors Group. It will complement a broad line of hose products designed to meet the many demands of the industrial marketplace; including chemical, petroleum, air, water, cement and material handling applications.
Filed Under: Materials • advanced, Motion control • motor controls