CLEVELAND (April 13)—Parker Hannifin will hire financial advisors Salomin Smith Barney and Schroaders to strategize alternatives for its Commercial´s Metal Forming and Astron Building businesses. Parker has recieved numerous acquisition offers for the units since its Jan. 17 merger with their previous parent, Commercial Intertech, Parker said. Commercial´s Metal Forming and Astron—with 1999 sales of $54 million and $122 million, respectively—are "highly profitable," said Parker President and Chief Operating Officer Don Washkewicz, but Parker is determining whether retaining the units best serves their growth.
Parker to hire advisor for handling of metal and building units
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