Parker Hannifin Corporation has acquired SSD Drives India from the UniDEL India Group, a privately held automation and technology group, for an undisclosed amount.
SSD Drives India, which had fiscal 2006 annual sales of approximately $7m, will be integrated within Parker’s Automation Group as the SSD India business unit. The acquisition is expected to be accretive to earnings within the first full year of integration.
Headquartered in Chennai, SSD India designs, integrates and sells low voltage AC, DC, and servo-drive systems to power and control continuous and discrete manufacturing processes. The company operates seven regional sales offices throughout India.
Parker had previously acquired SSD Drives Holding Limited from Compass Partners International Limited in August of 2005, also an integral part of the automation group.