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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Designed to provide a plug and play solution for OEMs that need to be compliant with Machinery Directive 2006/42/EC, Camozzi Automation says that its new quick exhaust 2-way safety valve range also complies with ISO 13849-1 covering the safe design of control systems which perform safety functions

1 day ago

SICK’s Open Service for IO-Link function blocks

A new open software service for control systems has been introduced by SICK

4 days ago

Automatic bearing lubrication brings ore inspiring results in mining

By installing automatic lubricators for bearings on its conveyor drive motors and belt pulleys, an opencast mine in Hungary has seen a range of benefits, including the prevention of unplanned downtime, longer bearing life and reduced repair work

4 days ago

Kinoulton company conveys COVID-combating masks

Here's a great example of the germ of an idea resulting in the combating of COVID

4 days ago

FLIR Systems announces four new Exx-Series handheld thermal imaging cameras

New E96, E86, E76 and E54 models feature enhanced thermal resolution and provide on-camera routing capability for more efficient inspections