Parker Hannifin Acquires Texas Thermowell
Tue, 12/04/2007 - 5:15am
CLEVELAND (AP) — Parker Hannifin Corp., which makes motion-control systems, said Monday it acquired the Texas Thermowell Industries business from Bravura Ltd. for an undisclosed amount.
Parker Hannifin said Texas Thermowell, which makes equipment to protect temperature sensors, should generate about $5 million in sales this year. The acquisition is expected to add to Parker Hannifin's earnings within the first year.
''Texas Thermowell products will give Parker a solid foundation in critical temperature sensing applications within chemical processing and petroleum refining markets,'' said John Greco, President of Parker's Instrumentation Group.
Texas Thermowell is based in Beaumont, Texas.