Parker Hannifin acquires Hanil

Parker Hannifin Corporation has acquired Hanil Hydraulics Company Ltd, a Korean-based maker of hydraulic valves used in construction equipment applications. Terms of the deal were not disclosed. The acquisition is expected to be accretive to earnings within the first full year of integration. With annual revenues of approximately USD 25 million, Hanil Hydraulics employs 140 people. The company produces sectional valves, gear pumps and monoblock spool valves for mobile equipment including excavators, forklifts, and lift trucks, primarily serving the Korean and Chinese markets. Hanil will become part of Parker’s Asia Pacific Hydraulics Group.

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