Parker Hannifin Corp. is boosting its Aerospace Stratoflex Products Division by acquiring Resistoflex Aerospace, a maker of fluoropolymer-lined hoses and high-pressure fittings.
Cleveland-based Parker Hannifin announced the deal May 15. It bought Resistoflex, a company with 2005 sales of $16 million, from Crane Co. of Stamford, Conn. Terms were not disclosed.
Resistoflex employs 84 at its 55,000-square-foot site in Jacksonville, Fla. It also makes tubing; swaged fittings, including hydraulic beam seal fittings for aircraft; and Nutlok, a separable fluid connector requiring no lock wire.
The company will be integrated into Aerospace's Stratoflex of Fort Worth, Texas.
Its new owner said Resistoflex will complement Parker Hannifin's offerings. The Stratoflex division designs and makes fluid-conveyance systems and products.
Cheryl Flohr, Parker aerospace communications director, said the Jacksonville facility will be evaluated, but the product line will continue at its present site and may be expanded. She said the companies have some similar products, but the acquisition will broaden Parker's product line.
Crane President and Chief Executive Officer Eric Fast said in a news release that Resistoflex and its Westad valve business in Norway, which was sold in April, went for a combined $26 million. Westad had annual sales of $25 million and was sold to a Norwegian company, Technor ASA. Fast said both businesses were peripheral units that did not fit in the company's plans.
He added that Crane retains its Resistoflex Industrial business in Marion, N.C.