Parker acquires Micro Thermo Technologies from Carrier Corporation
Written by Gillian Marsh September 10, 2010
Parker Hannifin Corporation – a motion and control technologies company – has acquired Micro Thermo Technologies of Quebec, Canada from Carrier Corporation.
Micro Thermo is a manufacturer of refrigeration controls and energy management systems for supermarket applications. The terms of the transaction were not disclosed but it is expected to receive good earnings in its first full year of operations, says Parker.
Micro Thermo had sales of approximately $10 million last year and employed 50 people. They will now be reported in Parker’s Climate and Industrial Controls reporting.
“This acquisition strengthens our ability to establish the most complete range of electronic and mechanical control systems for supermarket refrigeration and HVAC systems,” said Tom Healy, president of Parker's Climate and Industrial Controls Group. “Micro Thermo Technologies has built a strong reputation for quality electronic controls in markets that are complementary to our Sporlan brand mechanical controls markets in North America. These combined capabilities extend our position as a systems provider to our customers and can help drive growth in this part of our business.”
PARKER HANNIFIN CORP.
www.parker.com
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