Compressed Air Best Practices - November 2008 - (Page 7) Compressed Air Industry STEEL & METALS | 11–12/08 | Parker Acquires Legris, Origa and Hargraves Parker Hannifin Corporation announced that it has acquired three companies whose total sales for their most recently reported fiscal years are a combined $452 million. Parker is remaining focused on executing its plans for growth throughout the current economic turbulence. “We continue to maintain our long-term focus on growth and positioning Parker for sustained financial performance,” said Don Washkewicz, Chairman, Chief Executive Officer and President. “The acquisitions we have announced today bring us new technologies and market opportunities. They also signal an ongoing commitment to our growth strategy, managing our assets conservatively, and making appropriate use of strong cash flows.” Legris SA, headquartered in Rennes, France, is a leading manufacturer of fluid circuit components and systems for pneumatic, hydraulic and chemical processing applications. In 2007, Legris recorded revenues of 233 million euros (approximately $340 million). The company has approximately 1,800 employees, 10 production facilities and a global network of 25 international sales offices. Origa Group is a manufacturer of rodless pneumatic actuators, electric actuators, FRLs (filter regulator lubricator), pneumatic cylinders and valves used in the transportation, semiconductor, packaging and conveying markets. Its most recently reported annual sales were approximately 67 million euros (approximately $98 million). The Group employs approximately 350 people and has major operations in Filderstadt, Germany, Wiener Neustadt, Austria, Glendale Heights, Illinois in the United States and smaller facilities in several other international locations. “We’re excited about the opportunities this combination offers for Parker,” said Roger Sherrard, President of Parker’s Automation Group. “Origa is a respected manufacturer and their world class rodless actuator line strengthens the depth and breadth of our global product portfolio. The Origa brand is well known particularly in European markets that offer growth opportunities for Parker.” Hargraves Technology Corporation of Mooresville, North Carolina, is a leader in the innovative design and manufacture of miniature liquid and pneumatic diaphragm pumps, control valves and system solutions. These products control movement and direction of precise amounts of fluid in medical devices and life science analytical instrumentation as well as diagnostic, gas detection and printing systems. Hargraves’ sales for the fiscal year ending December 31, 2007 were approximately $14 million. For more information, visit www.parker.com www.airbestpractices.com 7 http://www.parker.com http://www.parker.com http://www.airbestpractices.com
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