By Liz White, ERJ staff
Cleveland, Ohio-Parker Hannifin has purchased Filtran Aftermarket Products Inc. (FAP) of Miami Lakes, Florida, from SPX Corp. Terms of the deal were not disclosed.
FAP, which had sales of $33 million (Euro 26.6 million) in 2004, supplies aftermarket components including seals and gaskets used in the rebuilding of automotive transmissions. Parker described the company as providing "complete sealing solutions for the automotive transmission market, including re-builders, OEMs and distributors."
Parker said its will integrate FAP into its Seal Group, adding that it expects the new unit to add to earnings.
"We are pleased to welcome FAP to our extensive range of sealing products," said Heinz Droxner, president of Parker's Seal Group, in a company statement. "We look forward to new opportunities for our global business as a result of the acquisition."