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Article: Parker Hannifin's acquisition of hi-tech group companies to offer greater access to medical markets.(Industry News)
- Article from:
- Medical Product Outsourcing
- Article date:
- May 1, 2008
CopyrightCOPYRIGHT 2008 Rodman Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Parker Hannifin has been on a buying spree in recent weeks, snapping up two businesses that will give the Cleveland, OH-based manufacturer greater access to the medical device and hydraulic technology markets.
The acquisitions of Vansco Electronics and HTR Holding Corp. and its subsidiaries Hi-Tech Rubber Inc., Inland Technologies Inc., Ventrex Inc. and Accusil occurred just two weeks after Parker Hannifin expanded its credit line to $1.5 billion in late March. Terms of these deals were not disclosed.
Parker Hannifin's chief financial officer said at the time of the credit line expansion that the access to cash would make it easier for the company to ...