Parker acquires manufacturer of structural framing systems for automation
Cleveland, O. - Parker Hannifin Corp. announced Jan. 31 that it has acquired IPS Industrial Profile Systems (Houston, Tex.) for an undisclosed sum.
Cleveland, O. - Parker Hannifin Corp. announced Jan. 31 that it has acquired IPS Industrial Profile Systems (Houston, Tex.) for an undisclosed sum. Formerly known as Item Products, IPS is a manufacturer of specialized structural systems used in factory automation, machine building, safety enclosures, and assembly workstations.
IPS has 150 employees, annual revenues of $20 million, and nine facilities in the U.S., Canada and Mexico. IPS will become part of Parker's Automation Group and its Automation Actuator Division (Wadsworth, O.).
'This addition is another step in our strategy to offer complete systems for industrial automation,' says Bob Bond, president of Parker's Automation Group.
Roger Sherrard, gm of Parker's Automation Actuator Division, adds that, 'IPS is a perfect complement to our own structural systems and linear motion products, and it also brings a welcome combination of talented people, innovative products and local systems integration expertise.'
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