Buying hydraulics

Parker Hannifin has acquired Hanil Hydraulics, a Korean-based maker of hydraulic valves used in construction equipment.

With annual revenues of approximately $25 million, Hanil Hydraulics employs 140 people.

The company produces sectional valves, gear pumps and monoblock spool valves for mobile equipment including excavators, forklifts, and lift trucks, primarily serving the Korean and Chinese markets.

Hanil will now become part of Parker’s Asia Pacific Hydraulics Group.

Terms of the deal were not disclosed.