Parker Acquires Aqua Pro

Wednesday, November 05, 2008

Parker Hannifin Corporation(NYSE: PH), provider of motion and control technology, announced that it has acquired Aqua Pro, Inc. a manufacturer of reverse osmosis("RO") filtration systems for military, commercial and pleasure marine applications.

Aqua Pro sales for fiscal 2008 were $33m. The acquisition is expected to be accretive to earnings within its first year following acquisition and its results will be reported as a component of Parker's Industrial North America segment. Terms of the acquisition were not disclosed.

With manufacturing centers in Gardena and San Fernando, California, Aqua Pro does business as Village Marine Tec and Offshore Marine Laboratories. Sales and service locations are located in California, Florida, Hawaii, Virginia, and Washington. The company sells to Original Equipment Manufacturers including boat and ship builders, independent distributors, U.S. military branches and end users. Aqua Pro's product line includes RO systems for military on-board submarines, and land applications as well as offshore oil rigs, work boats, fishing vessels, and pleasure boats.

With annual sales exceeding $12b, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 62,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 52 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index.


Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Equipment

Seaspan Acquires Sixth 14000 TEU Boxship

Seaspan Corporation  announced today that it accepted delivery of a 14000 TEU containership, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co.

Chevron Cylinder Oil Gains NOL from Wärtsilä

Chevron Marine Lubricants’ 100BN cylinder oil, Taro Special HT 100 has received approval for its use in another engine range – products made by Winterthur Gas & Diesel Ltd.

Hapag-Lloyd Announce Service Improvement

For the benefit of increased schedule reliability, Hapag-Lloyd and partner lines have decided to take the following measures: Implementation of a fourth vessel

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1193 sec (8 req/sec)