Parker Hannifin Buys Sterling Hydraulics

October 19, 2005 — Parker Hannifin Corp., Cleveland, Ohio, recently acquired Sterling Hydraulics for an undisclosed amount of cash from Sterling Industries PLC, a unit of Crewkerne, England-based Caledonia Investments PLC, according to a recent report in Reuters.

Sterling Hydraulics, which makes custom hydraulic screw-in cartridge valves and manifold systems, had about $42 million in sales for the fiscal year ended March 31, indicated the news brief. The company has nearly 300 employees and operates facilities in England and Chicago. Parker Hannifin posted sales of $8.22 billion for fiscal 2005.