Parker Hannifin has announced a $15.3 million investment in Tokyo-based Kuroda Precision Industries as part of an alliance agreement between the two companies. This gives Parker a 33.4% ownership stake in its Japanese ally. Both companies hope that this relationship will offer growth opportunities at a time when demand for factory automation is on the rise.
Japanese investment in Yorkshire
More than 400 jobs will be created in Rotherham as a result of a £32 million investment by Japanese manufacturing company Toyoda Gosei. The new manufacturing facility, which will be the company’s first in Europe, will manufacture automotive weather-strips for Toyota France. Production will begin by the end of 2000.
Acquisition for Rockwell
In an undisclosed deal, Rockwell Automation has announced that it will be acquiring the assets of ETG, a software and service company specialising in custom information management programs. Software president Rich Ryan commented: “This acquisition positions us for continued growth in the area of automation software and allows us to offer our customers additional tools for creating `soft automation’.”
TI Group Automotive Systems formed
Following its acquisition of Walbro, TI Group has announced the formation of TI Group Automotive Systems. This organisation will combine Walbro’s fuel systems business with Bundy, TI Group’s fluid-carrying systems specialist. Alan Walsh has been appointed chief executive of the new business, which will operate alongside Bundy’s brake line and powertrain fluid-carrying operations.