Parker Hannifin Corporation, the parent company of well known EMI shielding firm Chomerics, has again extended its manufacturing capabilities with the acquisition of Titan Industries, a manufacturer of industrial rubber, custom-made, and composite hoses for fluid and material transfer as well as related products, services, and accessories. Headquartered in South Gate, CA, Titan has additional locations in Houston, TX and Salisbury, NC and employs 150 people. The company achieved sales of $28 million last year. The acquisition of Titan gives Parker access to the marine, aircraft, food, and dock side refueling markets. The acquisition is expected to be accretive to earnings within its first year of operation. Titan’s results will be reported within the Industrial North America segment. Terms of the acquisition were not disclosed. View the original announcement at the Parker Hannifinwebsite.
Parker Hannifin Expands Industrial Capabilities with Acquisition of Titan Industries
