CLEVELAND (Dec. 3, 2008) — Parker Hannifin Corp. has acquired Detroit Plasticos e Metais S/A (Detroit) of Sao Paulo, Brazil.
Terms of the deal weren't disclosed.
Detroit Plasticos is a manufacturer of high-performance fittings, valves, manifolds and thermoplastic tubing used throughout Latin America in oil and gas, petrochemical, pulp and paper, mining, transportation, steel, construction and agricultural markets.
The firm employs 210, and had 2007 sales of about $17 million. The acquisition is expected to be accretive to Parker's earnings in the first full year following the closing of the transaction.
The acquired company will become part of Parker's Fluid Connectors business in Brazil with future sales reported as part of the Industrial International segment.