Parker Hannifin To Acquire Gull Inc.

Parker Hannifin Corporation and Gull Inc. of Smithtown, N.Y., recently announced that a definitive agreement has been reached for Parker to acquire Gull, a leading producer of state-of-the-art fuel gauging and monitoring systems, engine-monitoring computers, firesuppression systems, and navigation- monitoring computers for military and commercial aviation.

Under the merger agreement, each share of Gull common stock will be converted into .7 Parker common share. The transaction involves a total of about 3.7 million shares of Parker. Parker also has an option to purchase approximately 20 percent of Gull's stock.

Gull recorded earnings of $4.7 million on sales of $72.9 million for its fiscal 1987, ended May 31.

Parker is a leading producer of motion-control components and systems for industrial, automotive, aviation, space and marine markets.

Sales in fiscal 1987, ended June 30, were $1.88 billion, with net income of $85.2 million.

For more information and free literature, Circle 25 on Reader Service Card

Maritime Reporter Magazine, page 5,  Jan 1988 Commission on Merchant Marine and Defense

Read Parker Hannifin To Acquire Gull Inc. in Pdf, Flash or Html5 edition of January 1988 Maritime Reporter

Other stories from January 1988 issue

Content

Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.