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Parker Hannifin Corp. acquires Vansco Electronics. Vansco systems for mobile equipment, a primary Parker market, include key applications for agricultural, construction, material handling, bus, RV, and specialty truck equipment. Vansco facilities in Canada, the United States, Finland, Belgium, and the United Kingdom employ 1,005 people. In the fiscal year ending August 31, 2007, Vansco achieved sales of approximately $180 million. Approximately 83% of Vansco's sales are made in Parker's Industrial North America reporting segment. This acquisition is expected to be accretive to earnings in its first full year of operations. Terms of the deal were not disclosed.

Vansco will become a part of the global operations of Parker's hydraulic technology business. It will complement a broad line of hydraulic components and systems including pumps, motors, valves, cylinders, hydraulic drives, energy recovery systems, and vehicle cooling and engine management systems.

"We are very excited to welcome Vansco to Parker," says Jeff Cullman, group president of Hydraulics. "Its controls are complementary to our IQAN controllers and sensors, which will allow us to completely integrate motion control systems for mobile equipment produced by leading international manufacturers. Parker and Vansco share a common customer base and the combined strength of the two companies will further our ability to engineer complete systems and improve the productivity and profitability of our customers' products."

"We have been well aware of Parker as the motion and control leader for quite some time," says Dr. Niels Erik Hansen, CEO of Vansco. "We are pleased that Parker, an established leader in many of Vansco's markets, will significantly expand our capability to service our many valued mobile equipment customers."