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Parker Acquires Snap-tite

CLEVELAND (AP) — Parker Hannifin Corp. has acquired Snap-tite for an undisclosed sum, the motion control products company said Tuesday.

Snap-tite Inc., based in Erie, Pa., makes valves, fittings and other products for industrial use. The family-owned business has annual revenue of roughly $100 million and employs 500 people.

Parker Hannifin, based in Cleveland, said the acquisition will help increase its presence in the fluid power and process control markets.


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