Parker Hannifin to Buy Coating and Adhesives Veteran Lord Corp

Posted on 5/14/2019 12:14:44 PM By ASC

US industrial conglomerate Parker Hannifin Corp has announced its intention to buy Lord Corp for $3.68 billion in order to build its materials science capabilities. On completion of the sale, the veteran developer and producer of coating and adhesives, in its 95th year of operation, will become part of the Parker Hamilton engineered materials division.

Lord Corp, which currently records annual sales of over $1 billion dollars, has 15 research and development facilities and 17 manufacturing plants around the globe. And while adhesives and coatings have been its major call to fame during most of its near century of operation, it is also active in the field of motion and vibration control technology for the industrial, automotive and aerospace industries.

Parker Hannifin’s engineered materials division falls within the conglomerate’s diversified industrial unit, which last year accounted for more than 80% of the corporation’s revenue.