Parker Hannifin to bolster fluid power position with acquisition of cylinders producer

CLEVELAND (April 23)—Parker Hannifin has agreed to acquire the Miller Fluid Power and Wilkerson Corp. FRL businesses of CKD-Createc, the U.S. subsidiary of CKD in Japan, for an undisclosed amount. Parker said it expects to complete the purchase by April 30. The units, which posted combined sales of $90 million in 2000, produce pneumatic and hydraulic cylinders that provide linear power for machinery. "This is a bolt-on acquisition for Parker and one that will complement our North American fluid power marketplace," said Marwan Kashkoush, president of Parker's Hydraulics Group.