Norma Group To Acquire Parker Connectors Business
24 June 2016
Norma Group SE, a global supplier of engineered joining technology, has entered an exclusive agreement to acquire all assets of the Autoline business from Parker Hannifin’s Fluid Systems Connectors Division. The terms of the agreement are confidential and will not be disclosed. Completion of the transaction is subject to customary closing conditions and is expected in the second half of this year.
Parker Autoline, which is headquartered in Guichen, France, designs, manufactures and markets quick connectors for all types of transportation fluid line applications for over 20 years. The plastic push-to-connect components are used in passenger and commercial vehicle in fuel lines, cooling lines, vapor lines, braking assistance lines and selective catalytic reduction circuit lines. The connecting products are manufactured at production sites in France, Mexico and China. Expected global sales of Parker Autoline products in 2016 is estimated at around €40 million.
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