Tokyo’s Yokohama Rubber Co., Ltd., has announced that, effective September 18, it has acquired the Italian marine hose manufacturing and sales company Parker MHP S.r.l. from its US parent company, Parker Hannifin Corporation. The Italian company’s name will be changed to Yokohama Industrial Products Italy S.r.l.
At present, Yokohama Rubber manufactures marine hoses in Japan for sale globally. The acquisition gives the company a base for manufacturing and sales of marine hoses in Europe, further strengthening production capacity and extending its coverage of the market.
Demand for marine hoses is rising along with the global expansion in offshore oil field development. To meet this rising demand, Yokohama Rubber is also constructing a marine hose plant in Indonesia. Combined with its existing facility in Japan, the acquisition of the Italian company and the new plant in Indonesia will give Yokohama Rubber a three-pillar worldwide production network.