CLEVELAND (May 16)—Parker Hannifin Corp. has entered an agreement to acquire Toledo, Ohio-based Dana Corp.'s Chelsea Products Division. The acquisition gives Parker expanded capacity to produce power take-offs and related auxiliary power devices for the medium- and heavy-duty vocational equipment market. With reported 2000 sales of $67 million, the Chelsea unit has manufacturing facilities in the U.S. and the United Kingdom. Parker said it plans to operate Chelsea as a division of its Hydraulics Group. Terms of the deal were not disclosed.