Parker Hannifin has acquired TexLoc and its medical division, TexMed, manufacturer and designer of fluoroplastic tubing products, for an undisclosed cash sum
Both parties say they are excited about the acquisition and the opportunity to share of resources, knowledge and expertise.
"Parker will provide a great opportunity for TexLoc and TexMed to expand our products globally.
"Its global presence and reputation for quality will enable wider distribution of the products we are proud to have developed," said Dan Rodriguez, general manager of TexLoc.
With annual sales exceeding US$8 billion, Parker Hannifin claims to be the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets.
The company employs more than 50,000 people in 48 countries around the world.
Parker has increased its annual dividends paid to shareholders for 49 consecutive years, among the top five longest-running dividend-increase records in the S and P 500 index.
