Parker Hannifin Acquires Snap-tite Inc.
Parker Hannifin Corp. today announced that it has acquired Snap-tite Inc. of Erie, PA. Snap-tite manufactures high-pressure fluid power components for oil and gas, industrial and research markets. Terms of the transaction were not disclosed.
Snap-tite, with annual sales of approximately $100 million, employs 500 people in Erie, PA; Union City, PA; Houston, TX; and Wexford, Ireland. Sixty-Four percent of the sales will be reported as North American and 36 percent reported as international.
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