Moody's Places Parker-Hannifin (PH) Ratings on Review for Downgrade

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Go back to Moody's Places Parker-Hannifin (PH) Ratings on Review for Downgrade

Parker to Acquire Filtration Company CLARCOR in a Strategic Portfolio Transaction

December 1, 2016 7:00 AM EST

Strengthens Parkers Filtration Business with Addition of Complementary Product Lines and MarketsExpected to Be Accretive to Cash Flow, EPS, and EBITDA Margins Excluding One-time CostsSignificantly Increases Presence in Filtration, Adding Resilient, Growth BusinessStrong Recurring Revenue Approximately 80% of Sales Are AftermarketEnhances Total Parker Systems SolutionsParker to Host Conference Call Today at 7:30 AM CT / 8:30 AM ET

CLEVELAND and FRANKLIN, Tenn., Dec. 01, 2016 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH) (Parker) and CLARCOR Inc. (NYSE: CLC) (CLARCOR), today... More