Parker Hannifin Corporation Plans to Acquire Clarcor Inc.

United States: Parker Hannifin Corporation, a US based leading company in motion and control technologies has entered into an agreement with a well-established manufacturer of filtration systems and packaging materials, Clarcor Inc. The agreement lays out the acquisition details of Clarcor Inc. by Parker Hannifin Corporation for a price of USD4.3 billion. Purchase of Clarcor Inc., will add wide range of industrial air and liquid filtration products and technologies to Parker’s filtration business. Clarcor generates approximately 80% revenue through its aftermarket sales business, which post acquisition will leverage the revenue for Parker Hannifin’s filtration business. As per Chris Conway, the Chairman, President, and CEO of Clarcor Inc. the acquisition will help solve complex filtration challenges and uplift the strategic initiatives as well.

TechSci Research depicts that Clarcor’s strong presence in the US will cater to the demand for both air filters as well as liquid filters in the country. The international market of air filters will witness a robust growth in near future with demand met by the sale from Parker’ filtration group.

 According to the recently published report by TechSci Research, “Global Air Filters Market By Type (Medium Efficiency, HEPA, Low Efficiency, Gas Phase, etc.), By Application (HVAC, Automotive, Bag House, Cleanroom & Gas Turbine), By End Use Sector, By Region, Competition Forecast and Opportunities, 2011 - 2021”, the global market for air filters is forecast to cross US$ 20 billion by 2021, due to rising demand from process industry, oil & gas and power sector. Medium efficiency air filters and HEPA filters dominate the global air filters market due to rising quality centric approach of end users in developed as well as major developing economies. Asia-Pacific is the largest regional market in global air filters market on account of increasing demand from diverse sectors including pharmaceuticals, electronics and microelectronics, construction, refineries, and petrochemical.