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Aug. 6, 2004: Plans Announced For Parker, Sporlan Agreement

August 6, 2004
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CLEVELAND - Parker Hannifin Corp. and Sporlan Valve Co. have confirmed that they have signed an agreement paving the way for a "strategic, complementary business combination, pending satisfaction of customary conditions, including regulatory review," according to a statement from Parker.

The agreement provides for Sporlan to become a division of Parker's Climate & Industrial Controls unit "with a strategy to grow the business globally," according to the statement.

A spokesperson from Parker said that further details about the combination will be provided upon completion of the transaction.

Publication date: 08/02/2004

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