WASHINGTON (dpa-AFX) - Parker Hannifin Corp. (PH) announced that it has acquired Jäger Automobil-Technik GmbH and Jäger Automotive Polska Sp. z.o.o. from Arnold Jäger Holding GmbH, headquartered in Hannover, Germany.Terms of the transaction were not disclosed.
The Jäger Group is a pioneer in rubber to plastic direct bonded sealing systems for automotive markets and a leading developer of two-component (2K) direct injection molding technology.
The acquired businesses combined have annual sales of approximately $45 million and nearly 250 employees. Their products are used to seal and protect key components of automotive systems. The acquisition will become a business unit of Parker's Prädifa Technology Division in the Engineered Materials Group and all revenues will be reported in the Diversified Industrial Segment.
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