Published Aug. 15, 2012
The Hanover, Germany-headquartered automotive supplier said its ContiTech division acquired Parker Hannifin’s Mobile Climate Systems division in “one of the largest acquisitions in ContiTech’s history.”
Parker Hannifin’s three locations in South Carolina, including its TechSeal division headquarters in Spartanburg, are not part of the deal, according to Continental.
ContiTech specializes in rubber and plastic technology not related to tires.
Parker Hannifin’s mobile climate division, which makes refrigerant control and containment components for car and light-truck air conditioning units, is headquartered in Collierville, Tenn.
The division has 1,000 employees and plants in Mexico, the Czech Republic, South Korea and China.
“The acquisition is perfectly in line with our growth strategy,” said ContiTech CEO Heinz-Gerhard Wente. “Parker has an excellent presence among the American and Japanese automotive manufacturers and will open additional doors for us in Asia. After the acquisition, we will also become a worldwide partner for manufacturers such as Ford, GM and Honda.”
Parker Hannifin’s S.C. manufacturing facilities are in Beaufort, Moncks Corner and Spartanburg.
Spartanburg also is home to the TechSeal division headquarters and sales office.