Parker Hannifin acquires PGI International
CLEVELAND — Motion and control technology company Parker Hannifin Corp. has acquired Houston-based PGI International.
PGI designs and manufactures high-pressure flow control components and systems for oil & gas, agriculture and petrochemical applications.
PGI will become a part of Parker''s Instrumentation Group and approximately 80 percent of revenues will be reported in the North American Industrial segment and the remaining 20 percent of revenues will be reported in the International Industrial segment.
"This acquisition will strengthen Parker''s position in the Oil and Gas and General Instrumentation markets," said John Greco, vice president and president – Instrumentation Group. "The addition of PGI provides product and manufacturing technologies and expanded systems capabilities along with a solid name in the industry. We are excited about the opportunities to combine our organizations to allow us to extend more solutions to our customers."