ParkOhio to acquire Erie Press Systems.

ParkOhio, a leading provider of supply chain management services and highly-engineered manufactured products, has acquired Erie Press Systems, an industry recognized leader in the manufacturing of advanced forging presses, hydraulic and mechanical presses, and metal stretch-forming and carbon extrusion machines for several end markets, including aerospace and defense, primary metals and high-speed rail. Financial terms were not disclosed. "The acquisition of Erie Press, with annual revenues of approximately $20m, will be immediately accretive to earnings. Erie Press has an impressive history of designing and building engineered-to-order equipment for the aerospace and other industries for over 120 years and is a complement to our Engineered Products forging strategy." Edward F. Crawford, ParkOhio President.