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In Brief

01 April, 2005

Parker Hannifin has formed a joint venture with Tianjin Tejing Hydraulics to produce hydraulic components and systems, including pumps, valves and cylinders, in China. Parker is the majority shareholder in the new company, Parker Tejing Hydraulics (Tianjin).

• The Cannon Group has sold its injection moulding businesses to US-based Taylor`s Industrial Services. The businesses include Italy`s Sandretto, which Cannon acquired in 1997, and Germany`s Windsor, which it bought in 1998. Taylor`s is combining the businesses with its own machinery firm HPM to create a new injection moulding machinery manufacturer.

• The European market for hazardous area equipment will grow at an average rate of 6% over the rest of this decade, expanding from €1.3bn in 2003, to more than €2bn by 2009. This forecast has come from the market researcher IMS Research which says that the growth is being fuelled largely by the ATEX directive. The Eastern European market will grow at 1.5 times the average rate, it adds.

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