Parker To Sell North America Composites & Fuel Containment Division, With Completion Of This Transaction, Has Divested Businesses And Product Lines Over The Past 3-Years That Total Nearly $450M In Annual Sales
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Parker Hannifin Corporation (NYSE:PH) has signed an agreement to divest its North America Composites and Fuel Containment (CFC) Division to SK Capital Partners. This divestment is part of a broader strategy, with Parker having divested businesses totaling nearly $450 million in annual sales over the past three years. The transaction is subject to customary closing conditions.
July 29, 2024 | 8:59 pm
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Parker Hannifin Corporation (NYSE:PH) is divesting its North America Composites and Fuel Containment Division to SK Capital Partners. This move is part of a broader strategy to streamline operations, having divested $450 million in annual sales over the past three years.
The divestment aligns with Parker Hannifin's strategy to streamline its operations and focus on core areas. This could positively impact the stock price in the short term as investors may view the move as a step towards greater efficiency and profitability.
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