Parker Hannifin Acquires Sea Recovery

press release
Thursday, October 18, 2012

Parker Agrees to Acquire Sea Recovery from Danfoss A/S to Strengthen Its Position in Seawater Desalination for Marine Applications.

 

Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it has signed an agreement to acquire Sea Recovery, headquartered in Compton, CA from Danfoss A/S.  Parker will assume ownership of the acquired business on November 1 st, 2012.  Sea Recovery is a manufacturer of small to high capacity reverse osmosis systems for sea water desalination used primarily in commercial and pleasure marine applications. Terms of the transaction were not disclosed.

 

Sea Recovery had sales of approximately $26 million for the last twelve months ending August 31 st and 70 employees, and has been engineering and manufacturing sea water reverse osmosis systems since 1981.  The acquired company will become a part of Parker's Filtration Group and approximately 47 percent of revenues will be reported in the North American Industrial segment and the remaining 53 percent of revenues will be reported in the International Industrial segment.

 

"This acquisition supports our water purification growth strategy and further strengthens Parker's global leadership position in creating fresh water for commercial marine and large yacht markets," said Peter Popoff, President – Filtration Group.  "Sea Recovery product lines help Parker expand its offering across geographic and end market applications.  Their dedicated global sales and service organization is a strategic fit with our existing world class distribution network and will enable Parker to provide customers with the most advanced seawater desalination systems anywhere in the world."

 

Nis Storgaard, Danfoss Chief Development Officer added, "We are happy that we have found a new owner that is ready to support Sea Recovery and its employees to further develop and grow the business."

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NAVCENT Commander Recognizes Journey of Hope Sailors

Commander, U.S. Naval Forces Central Command, U.S. 5th Fleet, Combined Maritime Forces, Vice Adm. John. W. Miller, recognized the accomplishments of three special-needs sailors from the Kuwaiti ship,

NYK Holds 8th Environmental Management Conference

NYK welcomed about 60 environmental supervisors from 47 NYK Group companies to the group’s annual Environmental Management Conference in Tokyo. NYK holds this

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Contracts

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

BMT Supports Samalaju Port Development

BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia.

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Finance

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Marine Equipment

Wärtsilä Integrated Solutions for Maersk's AHTS Vessels

A new series of six Anchor Handling Tug Supply vessels to be built at the Kleven Verft AS in Norway for the Danish based Maersk Supply Service A/S - part of the A.

Third Strike, Mansour Is Out

The M/V "MANSOUR M" with IMO number 7600586 has been banned for the 3rd time after subsequent detentions after the second refusal of access order in the Paris MoU region.

MHI Completes Development of "Sayaringo STaGE"

Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Sayaringo STaGE," a next-generation LNG (liquefied natural gas) carrier. The Sayaringo

Mergers & Acquisitions

Gazprom to Partner Turkey to Supply Gas

Moscow hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Minister of Energy and Natural Resources of the Republic of Turkey.

NWS Approve Persephone Project

Woodside, as Operator of the North West Shelf (NWS) Project, advises that the NWS Project participants have approved the Persephone Project off the north-west coast of Australia.

CMA CGM Acquires OPDR

The CMA CGM Group has acquired the German shipping company Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG (OPDR), CMA CGM founder, chairman and CEO Jacques R.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1731 sec (6 req/sec)