Materials engineering
Parker Hannifin completes acquisition of Lord
Parker Hannifin has completed the acquisition of Lord Corporation, a manufacturer of adhesives and coatings as well as vibration and motion control technologies, for around 3.7 billion US dollars.
The strategic transaction creates a joint organization with high material science capabilities and a range of complementary products for the electrification and aerospace sectors.
The company expects a significant increase in value for shareholders. Lord is expected to further strengthen Parker's portfolio of businesses. "We are excited about the opportunity to further strengthen our technology portfolio by significantly expanding our position in materials technology," said Tom Williams, Chairman and Chief Executive Officer of Parker.
To ensure a smooth transition between Parker and Lord and to leverage synergies between the two organizations, an integration team was formed and a detailed integration plan was launched.
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