Manufacturer and Fabricator of Electromagnetic Interference Shielding Products
CLEVELAND, Oct. 31 /PRNewswire-FirstCall/ -- Parker Hannifin Corporation
(NYSE: PH), the global leader in motion and control technologies, today
announced the acquisition of EmiTherm Sdn Bhd, a provider of electromagnetic
interference (EMI) shielding and thermal management products. Revenues of the
acquired business were approximately $4.2 million in 2007. Earnings are
expected to be accretive to Parker in the first full year and will be reported
within the Industrial International segment. Terms of the transaction were
not disclosed.
Founded in 1996 by Roger Chua, EmiTherm is headquartered in Shah Alam
(Kuala Lumpur), Malaysia. EmiTherm manufactures EMI shielding materials such
as dispensed form-in-place, molded and extruded conductive gaskets, and is a
converter of thermal materials, serving electronics manufacturers throughout
Malaysia and the ASEAN region.
EmiTherm will be integrated into the Chomerics Asia-Pacific Division, a
unit of Parker's global Seal Group. Heinz Droxner, President of Parker's Seal
Group, commented, "EmiTherm enjoys a strategic footprint in Malaysia, enabling
us to effectively serve our customers throughout the region. The acquisition
of EmiTherm provides us with strategic advantage in this vital electronics
manufacturing region, offering global customers access to products and
efficient supply chain management."
Roger Chua, founder of EmiTherm remarked, "The acquisition of EmiTherm by
Parker provides our customers, employees, and many valued business partners
the benefits of a world class company with resources committed to providing
innovative EMI shielding and thermal material solutions in the many markets we
accommodate."
About Chomerics Division
Chomerics Division is a global leader in development and application of
electrically and thermally conductive materials used in electronics.
Chomerics serves customers in telecommunications, information technology,
medical devices, transportation, aerospace, defense, commercial and consumer
electronics, and alternative energy industries. For details, visit
http://www.parker.com/chomerics .
Note: CHOMERICS is a registered trademark of Parker Hannifin Corporation.
About Parker
With annual sales exceeding $12 billion, Parker Hannifin is the world's
leading diversified manufacturer of motion and control technologies and
systems, providing precision-engineered solutions for a wide variety of
mobile, industrial and aerospace markets. The company employs approximately
62,000 people in 48 countries around the world. Parker has increased its
annual dividends paid to shareholders for 52 consecutive years, among the top
five longest-running dividend-increase records in the S&P 500 index. For more
information, visit the company's web site at http://www.parker.com , or its
investor information site at http://www.phstock.com .
Forward-Looking Statements:
Forward-looking statements contained in this and other written and oral
reports are made based on known events and circumstances at the time of
release, and as such, are subject in the future to unforeseen uncertainties
and risks. All statements regarding future performance, earnings projections,
events or developments are forward-looking statements. It is possible that the
future performance and earnings projections of the company and individual
segments may differ materially from current expectations, depending on
economic conditions within its mobile, industrial and aerospace markets, and
the company's ability to maintain and achieve anticipated benefits associated
with announced realignment activities, strategic initiatives to improve
operating margins, and growth, innovation and global diversification
initiatives. A change in economic conditions in individual markets may have a
particularly volatile effect on segment results. Among the other factors which
may affect future performance are: changes in business relationships with and
purchases by or from major customers or suppliers, including delays or
cancellations in shipments or significant changes in financial condition;
uncertainties surrounding timing, successful completion or integration of
acquisitions; threats associated with and efforts to combat terrorism;
uncertainties surrounding the ultimate resolution of outstanding litigation;
competitive market conditions and resulting effects on sales and pricing;
increases in raw material costs that cannot be recovered in product pricing;
the company's ability to manage costs related to employee retirement and
health care benefits and insurance; and global economic factors, including
manufacturing activity, air travel trends, currency exchange rates,
difficulties entering new markets and general economic conditions such as
inflation, interest rates and credit availability. The company makes these
statements as of the date of this disclosure, and undertakes no obligation to
update them.
