Parker Hannifin acquires EMI shielding product business

Cleveland, Ohio – Parker Hannifin Corp. has purchased the Tecknit Division of Technical Wire Products LLC to bolster its existing range of electromagnetic interference shielding products.

Revenues of the acquired business totaled about $18.3 million in 2005. Earnings are expected to be accretive to Parker in the first full year, the company said. Terms of the deal were not disclosed.

The Tecknit business, which is headquartered in Cranford, New Jersey, employs about 250 people and occupies more than 9000 square metres of manufacturing and office space…