TOKYO—Yokohama Rubber Co. Ltd. has purchased Parker MHP S.r.l. from Parker Hannifin Corp. to expand its hose manufacturing and sales base.
Parker MHP is an Italian marine hose manufacturer and sales company. Its name will be changed to Yokohama Industrial Products Italy S.r.l., according to Yokohama. Financial details were not disclosed.
Currently, Yokohama makes marine hoses in Japan for sale globally. The acquisition gives the company a manufacturing and sales base in Europe, which it said will further strengthen its production capacity and extend its market coverage.
Yokohama is also constructing a marine hose plant in Indonesia because of the increased demand for hoses due to the global expansion in offshore oil field development.
Combined with its existing facility in Japan, the purchase of Parker MHP and the new factory in Indonesia, Yokohama said it will have a three-pillar global production network for marine hose.