Parker Hannifin may appeal over marine hose fine

ERJ staff report (DS)

Cleveland, Ohio — Parker Hannifin Corp. said it is evaluating all options, including an appeal , following a fine imposed by the European Commission over a subsidiary’s participation in the marine hose cartel. The subsidiary, Parker ITR was acquired in 2002, and Parker said there was no indication of this potential liability when the unit was acquired. Parker said it had fully cooperated with the investigation.

The European Commission (EC) is imposing a fine of 25.6 million euros on Parker ITR,…

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