Fort Worth, TX February 10, 2006
Parker Hannifin Corporation, the world's leading diversified manufacturer of motion and control technologies and systems, has acquired TexLoc Ltd. and its medical division, TexMed, manufacturer and designer of fluoroplastic tubing products, for an undisclosed cash sum.
Both parties 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. Their 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 $8 billion, 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 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&P 500 index.
For more information, visit the company's web site at www.parker.com or www.texloc.com.
Janine Kruit, Marketing Mgr.
4700 Lone Star Blvd.
Ft. Worth, Texas 76106
(800) 423-6551 Fax (800) 438-9562