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.


 
 

 

News Briefs August 18, 2014

New U.S. strikes in Iraq include land-based bombers The latest round of U.S. airstrikes in Iraq against the Islamic State extremist group includes the first reported use of land-based bombers in the military campaign. U.S. Central Command says a combination of bombers, fighter jets, attack planes and unmanned drones hit targets near Iraq’s largest dam...
 
 

Headlines August 18, 2014

News NATO would respond militarily to Crimea-style infiltration: general If Russia tries to infiltrate troops into a NATO country, even out of official military uniform as it did before it annexed Ukraine’s Crimea, NATO will respond militarily, the alliance’s top commander said in an interview published Aug. 17. http://www.reuters.com/article/2014/08/17/us-ukraine-crisis-breedlove-i...
 
 

U.S. Navy to test, evaluate Lockheed Martin industrial exoskeletons

Lockheed Martin has received a contract through the National Center for Manufacturing Sciences for the U.S. Navy to evaluate and test two FORTIS exoskeletons. This marks the first procurement of Lockheed Martin’s exoskeletons for industrial use. Terms of the contract were not disclosed. The FORTIS exoskeleton is an unpowered, lightweight exoskeleton that increases an operator’s...
 

 

Orbital completes third cargo delivery mission to ISS

Orbital Sciences Corporation, one of the world’s leading space technology companies, announced Aug. 18 the successful completion of its third cargo delivery mission to the International Space Station in the past 10 months, including the initial demonstration flight completed in October 2013 and the first two operational missions under the company’s $1.9 billion Commercial Resupply...
 
 

Brown extends tax credit to Northrop Grumman

California Gov. Jerry Brown has signed legislation that extends a $420 million state tax credit to aerospace giant Northrop Grumman after approving a similar deal for its competitor, Lockheed Martin. Brown’s office announced Aug. 15 that he signed SB718 by Sens. Richard Roth, D-Riverside, and Sen. Stephen Knight, R-Palmdale. It expands an aerospace tax credit...
 
 
Air Force photograph by SSgt. Sean Martin

Bomber crews showcase take-off talents

https://www.youtube.com/watch?v=F_8qr7ojpWg&feature=player_embedded Air Force photograph by SSgt. Sean Martin A B-52H Stratofortress starts its engines during a Minimum Interval Takeoff on Barksdale Air Force Base, La., Au...
 




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>