Parker Hannifin, the global leader in motion and control technologies, has acquired Aqua Pro, the manufacturer of reverse osmosis (RO) filtration systems for marine applications. The acquisition will enhance Parker’s already diverse range of products and services for the marine sector, while allowing customers of Aqua Pro to benefit from Parker’s engineering expertise and global support network.
Aqua Pro is also known as Village Marine Tec and Offshore Marine Laboratories, with sales and service locations in California, Florida, Hawaii, Virginia and Washington. The company sells to Original Equipment Manufacturers including boat and ship builders, independent distributors, the US military and end users. Aqua Pro’s product line includes RO systems for the military, on-board submarines and land applications, as well as offshore oil rigs, work boats, fishing vessels and pleasure boats.
“Aqua Pro is recognised as the leader in on-board marine reverse osmosis products and their innovative, engineered systems are currently in use on the most advanced naval vessels and premier motor yachts," said Peter Popoff, President of the Filtration Group for Parker Hannifin. “Expansion of the current business as well as additional applications in aerospace, biosciences, and industrial filtration will complement our existing products in growth markets. The Aqua Pro product line will contribute to the sales growth of Parker Filtration's global operations including our Racor Division and widely-accepted marine filtration systems.”
“For over 30 years, Aqua Pro has been dedicated to advancing the technology of reverse osmosis water filtration. We are pleased that our state-of-the-
Aqua Pro’s sales for fiscal 2008 were $33 million. The acquisition is expected to be accretive to earnings within its first year following acquisition and its results will be reported as a component of Parker’s Industrial North America segment. Terms of the acquisition were not disclosed.
Note to Editors:
With annual sales exceeding $12 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs approximately 62,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 52 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's web site at http://www.parker.com, or its investor information site at http://www.phstock.com.
Please send all sales enquiries to:
Parker Hannifin plc, European Product Information Centre, Parker House, 55 Maylands Avenue, Hemel Hempstead, Herts, HP2 4SJ. Tel: 00800 27 27 5374.
Email: epic@parker.com
This information was written by 4CM.
Tel: 01296 660080. Fax: 01296 662274.
Email: info.parkerracor@
