Parker to hire advisor for handling of metal and building units

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.