Business

July 5, 2012

Parker completes acquisition of Olaer Group in United Kingdom

Parker Hannifin Corporation, the global leader in motion and control technologies, announced July 2 that it has successfully completed its previously announced agreement to acquire the Olaer Group headquartered in Deeside, United Kingdom.

Terms of the transaction were not disclosed.

The Olaer Group has annual sales of approximately $200 million and 550 employees.

Approximately 88 percent of the sales will be reported as Industrial International and 12 percent reported as Industrial North America. With manufacturing and sales in 14 countries in North America, Asia and Europe, the Olaer Group expands Parker’s presence in geographic growth areas and offers expertise in hydraulic accumulator and cooling systems for target growth markets such as oil and gas, power generation and renewable energy.

“With the completion of this acquisition, we are pleased to officially welcome the employees of the Olaer Group to Parker Hannifin,” said Jeff Cullman, president of Parker’s Hydraulics Group. “We are excited about the opportunities for us to grow our business by providing customers with an expanded set of products and solutions and by extending the reach of the Olaer Group offering through Parker’s extensive distribution, OEM and international sales company channels. A detailed integration plan is being initiated to allow for a smooth transition of Olaer into the Parker organization.”




All of this week's top headlines to your email every Friday.


 
 

 

Headlines October 22, 2014

News: Northrop challenges 3DELRR contract award - Northrop Grumman has formally issued a protest against the US Air Force’s decision to award its next-generation ground based radar to competitor Raytheon.   Business: Defense firms prefer GOP, but spread campaign cash between political parties - For every campaign contribution from a major arms manufacturer to a Republican candidate...
 
 

News Briefs October 22, 2014

Military converges on scene of Kansas jet crash Military personnel are investigating at the site in southeast Kansas where an Oklahoma Air National Guard fighter jet crashed after a midair collision with another one during a training exercise. The F-16 crashed Oct. 20 in a pasture about three miles northeast of Moline, an Elk County...
 
 
Courtesy photograph

Upgrades ‘new normal’ for armor in uncertain budget environment

Courtesy photograph The current Paladin is severely under-powered and overweight so its speed of cross-country mobility is pretty restricted. The Paladin Integrated Management program is designed to address a number of these we...
 

 

ISR: A critical capability for 21st century warfare

The progressive adaptations and breakthroughs made in the intelligence, surveillance and reconnaissance arena have changed the way wars are fought, and the way commanders think about the battlespace. “Whether we have airmen exploiting full motion video data or serving downrange in the (Central Command) area of responsibility, these individuals make up an enterprise of 30,000...
 
 

Lockheed Martin teams with Roketsan of Turkey on new standoff missile for F-35

Roketsan and Lockheed Martin signed a teaming agreement Oct. 22 for collaboration on the SOM-J, a new generation air-to-surface Standoff Cruise Missile for the F-35 Lightning II. The SOM system is an autonomous, long-range, low-observable, all-weather, precision air-to-surface cruise missile. The SOM-J variant is tailored for internal carriage on the F-35 aircraft. The companies will...
 
 

Army Operating Concept expands definition of combined arms

The Army Operating Concept, published Oct. 7, expands the idea of joint combined-arms operations to include intergovernmental and special operations capabilities, said Gen. Herbert R. McMaster Jr. The new concept includes prevention and shaping operations at the strategic level across domains that include maritime, air, space and cyberspace, he said. It’s a “shift in emphasis,”...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>