21 Feb 2005
Cleveland, Ohio--Parker Hannifin Corp. has acquired Markwel Hose Products Pvt. Ltd., a manufacturer of braided and spiral hydraulic hose products, the company announced Feb. 18.
Markwel, with annual sales of about $13 million, is headquartered in Mumbai, India, and has a manufacturing operation in Hyderabad, India. The company makes hose products that are integral components of the hydraulic systems of heavy-duty mobile and industrial machinery, Parker said.
Markwel employs about 350 people at its two sites.
Terms of the agreement were not disclosed. The acquisition is expected to be accretive to earnings in the 2005 calendar year, Parker said.
Website of Markwel
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