Cleveland, OH – Parker Hannifin Corporation (NYSE: PH) announced that it has acquired Lingk & Sturzebecher of Stuhr, Germany. The acquired company, better known regionally as L&S, is a manufacturer of light weight carbon fiber high pressure cylinders and actuators including those based on composite technologies, for aerospace, mobile and industrial markets. This composite material technology will enable Parker to develop hydraulic components with significantly reduced energy burden for the power systems of machines equipped with hydraulics.
Terms of the transaction were not disclosed. The acquisition is expected to be accretive to earnings in its first full year of operations. Sales will be reported in Parker’s Industrial International reporting segment. In the fiscal year ended December 31, 2007, L&S achieved 7.6 million euros (approximately $11.2 million) in sales.
L&S will become part of the global operations of Parker’s hydraulic technology business. It will complement a broad line of hydraulic components and systems including pumps, motors, valves, cylinders, hydraulic drives, electronic controls, energy recovery systems, vehicle cooling and engine management systems.