Parker Hannifin to acquire NVH business of Nitto.

Parker Hannifin, a manufacturer of motion control products, agreed to acquire NVH business of Nitto, a diversified materials manufacturer. Financial terms were not disclosed. The Nitto Group has decided to transfer a portion of its business to Parker in anticipation of future growth in the NVH business through a strategic partnership with Parker. The company will accelerate the transformation of its portfolio and enhance its presence and value in the next-generation mobility market by focusing its resources on applications and technology areas where further growth is expected in the CASE domain, while growing its NVH business by strengthening its partnership with Parker going forward.