Parker allies, invests in Japan's Taiyo Ltd.

Cleveland, O.; Osaka, Japan - Parker Hannifin Corp. and Taiyo Ltd. announced Feb. 25 that they've formed a global alliance, which includes a 40% equity investment by Parker in Taiyo. The transaction is scheduled to close in March 2002, and is expected to be accretive to Parker earnings during the year.

03/07/2002


Cleveland, O.; Osaka, Japan - Parker Hannifin Corp. and Taiyo Ltd. announced Feb. 25 that they've formed a global alliance, which includes a 40% equity investment by Parker in Taiyo. The transaction is scheduled to close in March 2002, and is expected to be accretive to Parker earnings during the year.

The two companies expect their alliance to help them grow in automation markets with: shared technology development; expanded global marketing and distribution; and leveraged operating capabilities to serve industrial markets in Japan, Southeast Asia, Europe and the Americas.

Taiyo develops and manufactures a range of automation products, including hydraulic and pneumatic actuators, cylinders and specialized pneumatic products. The firm has 680 employees in Japan, and posted sales of approximately $165 million for its fiscal year that ended on Mar. 20, 2001.

"This alliance will strengthen Parker's presence in the important Japanese market," says Marwan Kashkoush, Parker's hydraulics group president. "This investment offers growth opportunities for both companies at a time when industrial demand for automation technology is poised for a rebound."

Akihiko Takashima, Taiyo's chairman, added that, "We are really pleased to have signed the agreement, and welcome Parker's equity participation. We wish for profitable growth of both partners through this business alliance, and Taiyo will do its best to enhance mutual business opportunities with Parker."

Control Engineering Daily News Desk
Jim Montague, news editor
jmontague@cahners.com





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Motor specification guidelines; Understanding multivariable control; Improving a safety instrumented system; 2017 Engineers' Choice Award Winners
Selecting the best controller from several viewpoints; System integrator advice for the IIoT; TSN and real-time Ethernet; Questions to ask when selecting a VFD; Action items for an aging PLC/DCS
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
click me