COMPANY NEWS

More hoses for Parker Hannifin

DSM and Parker Hannifin have have reached an agreement on the transfer of DSM’s Nylaflow Europe activities to Parker Hannifin. This move will strengthen Parker’s position as a manufacturer of industrial pressure hoses and also fits in with DSM’s strategy to focus on global leadership positions of engineering plastic stock shapes.

Meiden goes to Siberia

Meiden Europe has embarked upon a new venture in Russia by entering a licensed manufacturing/sales agreement with Uralektra. This drive control systems specialist was previously government owned and is located within the industrial area of Yekaterinburg. The venture represents a major step in Meiden’s drive to expand the sale of its products throughout Europe.

$36 million acquisition for MSC

MARC Analysis Research Corporation, one of the world’s leading developers of nonlinear analysis simulation software, has been acquired by the MacNeal-Schwendler. The deal,which is valued at $36 million, will both increase MSC’s market share and add to its core technology base.

A marriage of convenience

Visteon Automotive Systems and Sumitomo Electric Wiring Systems have formed a joint venture to offer customers integrated automotive electric systems. The partnership – AutoNeural Systems – will marry Visteon’s automotive systems capabilities with SEI’s electrical distribution expertise. Both partners expect the venture to generate sales of $250 million by 2004 and to grow as new technology systems are developed.