Parker Acquires Medical Gas Delivery Product Line, Expanding Its Dental Equipmen...( CLEVELAND Nov. 4 /- Parker Hannif...),Health

CLEVELAND, Nov. 4 /PRNewswire-FirstCall/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technology, today announced that it has completed the purchase of Matrx nitrous oxide delivery systems from the Midmark Corporation. The new line will allow Parker to expand its geographic market space for dental nitrous systems to global markets outside its current North American base of operations. The product line will be relocated from Midmark's Orchard Park, NY facility to Parker's Porter Instrument Division in Hatfield, PA, and will become a part of Porter's operations with revenue reported within the Industrial North America segment. Midmark's sales of the Matrx product line in its most recent fiscal year were approximately $7 million. Terms of the agreement were not disclosed.

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The Matrx nitrous oxide delivery system includes digital flowmeters, manifold systems, standard analog flowmeters and breathing circuits. "The Matrx product line broadens our offering in the dental equipment market and enables Parker to offer products uniquely designed for oral surgery and cosmetic markets," said John Greco, President of Parker's Instrumentation Group. "These products enhance Porter's range of solutions to satisfy varying customer requirements. This transaction demonstrates Parker's continuing expansion in high-growth markets."

"We are confident Parker's Porter Instrument Division will seamlessly integrate this product line into their existing operations. Satisfying the needs of our mutual customers during this transition will be the goal of both companies," said
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