The acquired PIX business has annual sales of approximately $13 million, employs 470 people, and includes a recently upgraded $25 million state-of-the-art manufacturing plant. Parker said the operation will be integrated into its Fluid Connectors Group and sales will be reported as part of the International Industrial Segment.
“The acquisition of the PIX hose and fittings business will allow us to solidify our position in India which is a strategically important growth market, while establishing an important base to support growth in the region,” said Bob Bond, president of Parker’s Fluid Connectors Group. “PIX offers us complementary product lines and manufacturing capacity to accelerate growth and localize manufacturing for other products serving customers in India.”
For more information, visit www.parker.com.
Publication date: 7/30/2012