CLEVELAND (April 5) — Parker Hannifin Corp. has purchased Rayco Technologies, an Asian-based elastomer and seal technology company, for an undisclosed amount.
With revenues of about $26 million, Rayco gives Parker Hannifin a stronger presence in Asia, the firm said.
The company employs about 500 at its two manufacturing operations in Singapore and China. The operations total more than 176,000 square feet of space, according a company spokesman.
The two factories primarily make products for the serve disk drive, electronics, medical, semiconductor, consumer and automotive industries.