Parker Acquisition of Vansco Electronics strengthens integration of hydraulic and electronic technologies

Vansco has been designing and manufacturing rugged and sophisticated electronic, electro-mechanical and electro-hydraulic products for over 25 years. The company has facilities in Canada, the United States, Finland, Belgium and the UK, employs over 1,000 people and, in the fiscal year ending August 31 2007, achieved sales of approximately $180 million. Many of the company’s products are used by OEMs in agricultural, construction, materials handling, bus, RV and specialty truck equipment.

Vansco will become a part of the global operations of Parker's hydraulic technology business. It will complement a broad line of hydraulic components and systems including pumps, motors, valves, cylinders, hydraulic drives, energy recovery systems, and vehicle cooling and engine management systems.

Jeff Cullman, Parker’s Group President for Hydraulics commented, We are excited to be able to welcome Vansco to the Parker organisation and to strengthen still further the solutions that we offer our customers. In particular, Vansco’s range of controls

complement our existing IQAN controllers and sensors, allowing us to offer customers integrated motion control systems for mobile equipment, backed by Parker’s extensive global support and technical expertise. Additionally, Parker and Vansco share a common customer base, with the combined strength of the two companies enhancing our ability to engineer dedicated solutions that help to improve the productivity and profitability of our customers' products.

We have been aware of Parker as the motion and control leader for quite some time, said Dr. Niels Erik Hansen, CEO of Vansco. We are pleased that Parker, an established leader in many of Vansco's markets, will significantly expand our capability to service our many valued mobile equipment customers.