John Crane, a Berkshire-based manufacturer of seals and associated products, has acquired Orion Corporation, a US-based manufacturer of hydrodynamic bearings for energy and general industrial markets. The terms of the deal were not disclosed.
John Crane, a Berkshire-based manufacturer of seals and associated products, has acquired Orion Corporation, a US-based manufacturer of hydrodynamic bearings for energy and general industrial markets. The terms of the deal were not disclosed.
John Crane is a division of global technology business Smiths Group, and the acquisition complements the company’s bearing technology business.
Paul Cox, president of John Crane, said: “The integration of Orion will build critical mass in our hydrodynamic bearing business and will add a manufacturing, sales and service base in North America to supplement our existing operations in Europe.”
John Crane reported an upsurge in revenues of 19 per cent to £1.3 billion, with an increase in pre-tax profits of 17 per cent to £167 million.
