July 31, 2012: Parker Hannifin Acquires Hose and Fittings Business of PIX Transmissions
CLEVELAND — Parker Hannifin Corp. announced that it has acquired the hydraulics manufacturing division of PIX Transmissions Ltd., Nagpur, India. PIX manufactures a range of hydraulic and industrial hose, hose assemblies, and fittings primarily used in the general engineering, marine, agriculture, mining, construction, and HVAC markets. Terms of the transaction were not disclosed.
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.