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.


 
 

 
atk-test

ATK successfully tests Orion launch abort motor igniter

NASA and ATK successfully completed a static test of the launch abort motor igniter for the Orion crew capsule’s Launch Abort System. Conducted at ATK’s facility in Promontory, Utah, this test is the next step towa...
 
 
uav-coalition

Small UAV coalition launched to advance commercial use of unmanned aerial vehicles

Leading technology companies Oct. 1 formally announced the formation of the Small UAV Coalition to help pave the way for commercial, philanthropic, and civil use of small unmanned aerial vehicles in the United States and abroad...
 
 

Northrop Grumman hand held precision targeting device completes successful developmental test

A new hand held targeting system developed by Northrop Grumman that will enable soldiers to engage targets with precision munitions while providing digital connectivity to related military units has successfully completed developmental testing at White Sands Missile Range in New Mexico. The evaluation of the company’s Hand Held Precision Targeting Device, or HHPTD, was conducted...
 

 

China’s first New-Generation Boeing Jetliner B747-8 delivered to Air China

In the evening of Sept. 29 29 in Seattle, Beijing time, Air China and Boeing held a grand aircraft delivery ceremony in Seattle, the United States, marking the official delivery of China’s first B747-8 to Air China. The type is a member of the latest generation B747 family. It will arrive at Beijing Capital International...
 
 

Raytheon awarded $251 million Tomahawk missile contract

The U.S. Navy has awarded Raytheon a $251 million contract to procure Tomahawk Block IV tactical cruise missiles for fiscal year 2014 with an option for 2015. The contract calls for Raytheon to build and deliver Tomahawk Block IV cruise missiles to the U.S. Navy and U.K. Royal Navy. Raytheon will also conduct flight tests...
 
 
Raytheon photograph

Poland’s TELDAT, Raytheon partner to develop new Patriot router

Raytheon photograph TELDAT President and CEO Henryk Kruszynski and Daniel J Crowley, president, Raytheon Integrated Defense Systems. Raytheon is partnering with TELDAT to develop and produce advanced militarized routers for the...
 




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>