Cleveland, Ohio--Parker Hannifin Corp. is teaming up with China's Tianjin Tejing Hydraulics Co. Ltd. to produce hydraulic components and systems at a joint venture in China.
Parker Hannifin will be the majority partner in the new venture known as Parker Tejing Hydraulics (Tianjin) Co. Ltd. The business included in the joint venture generated sales of $20 million last year, Parker said.
The agreement with Tejing will enable Parker to make a range of hydraulic devices for mobile equipment in the burgeoning China market, the company said. Tejing produces hydraulic pumps, valves and cylinders for mobile platforms at a plant in Tianjin City.
"(China's) many construction, public works and agricultural projects rely heavily on the power of hydraulics for mobile and industrial equipment," said Michael Leung, managing director for China.
Parker has been in China since the early 1990s with sales and service operations; today it operates two other wholly owned production facilities, plus another two joint ventures, three sales offices and two warehouses.
Press release from Parker