Posted to News on Sunday, November 20, 2011 Share:

Parker Hannifin acquires SSD Korea

Parker Hannifin Corporation has acquired SSD Korea Co, Ltd of Seoul, Korea. SSD Korea is focused on sales, distribution, system integration and application support for electromechanical drives and motors that are used in the industrial and entertainment markets. Terms of the transaction were not disclosed.

SSD Korea reported sales of approximately $16million for the company's year ended 2010. The acquired company will become a business unit of the Parker Korea Sales Company within the Asia Pacific Group and results will be reported within Parker's Industrial International reporting segment.

Michael Chung, President of Parker's Asia Pacific Group, states: "Parker sees significant opportunities for growth in the Asia Pacific region and the acquisition of SSD Korea will help extend our channel and technical capabilities in local markets here. SSD Korea brings us local market expertise and systems design, fabrication and service competencies that will allow our Automation Group to grow its presence in Korea. We see opportunities to leverage these capabilities by adding to the product offering, expanding into other countries in the region and supporting regional growth strategies for hybrid electric applications."

Parker Hannifin

Tachbrook Park Drive
Tachbrook Park
Warwick
CV34 6TU
UNITED KINGDOM

+44 (0)1926 317878

parker.uk@parker.com

www.parker.com/uk

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Foremost Electronics has introduced new KEL-DPZ-HD FDA compliant cable entry plates from icotek, specially developed for the use in the food and pharmaceutical industries

6 days ago

A new chainflex cable box means big shipping cost savings for customers

6 days ago

New industrial vision online channel sees the light of day

Industrial vision provider IDS is making its expertise as a manufacturer of digital industrial cameras available free of charge and readily accessible on a new platform

6 days ago

Ball screws help protect buildings from earthquakes

Ball screws from NSK are helping to protect structures and people in earthquake zones

6 days ago

ATEX certification for new pneumatic valve island

Pneumatic process control offers numerous benefits, especially in hygienic applications. Bürkert says that its new Type 8652 AirLINE valve island provides users with improved safety features, communications and diagnostics