Parker Hannifin has bought Dayco Industrial`s fluid management business, including its Imperial-Eastman products, and a wide range of hydraulic and industrial hose and connectors. The operation, which generated sales worth $304m last year, employs 2,365 people at 29 sites in the US, the UK, Canada and Australia. It will be integrated into Parker`s fluid connectors business.

The Dayco acquisition will enhance Parker`s r&d capabilities and will give it access to variety of proprietary compounds that it could use in other products.