25 May 2022
Parts maker Kaman Corp. to acquire the Ohio-based unit
Cleveland, Ohio – Parker-Hannifin Corp. is divesting its aircraft wheel and brake division based in Avon, Ohio, the US group has announced.
Bloomfield, Connecticut-based manufacturer of components and materials for aerospace & defence, industrial and medical markets Kaman Corp. is acquiring the business, Parker said 23 May.
The move is in line with Parker’s acquisition of UK aerospace and military components maker Meggitt plc, announced in February.
The European Commission cleared the $8.3 billion (€7.7 billion) acquisition last month conditional to Parker's divestment of its aircraft wheel and brake division.
According to Parker, the divested unit is “a leading manufacturer” of aircraft wheel and brake systems and related hydraulic products for general aviation, business aviation, rotorcraft, and military aircraft markets.
The unit reported sales of $70 million last year.
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