Parker Hannifin Adds to Mexico Stake

US-based Parker Hannifin, a seals producer, has acquired the remaining stake in its joint venture, Parker Seal de Mexico. Parker held a 49% stake in the $8.3m revenue company prior to the acquisition from multiple joint venture partners. Terms were not disclosed. “This is part of our long term strategy to serve customers who have operations in Mexico,” says Heinz Droxner, president of the Parker Seal Group. Parker manufactures seals by various processes in a broad range of fluorocarbon, PTFE and metal materials for use in liquid, gas, automotive, food processing, medical and electromagnetic shielding applications. It boasts annual sales exceeding $10bn.