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ParkOhio Closes Acquisition of NYK Component Solutions
Thursday 22 April 2021

Ohio, US-based supply chain management outsourcing services provider ParkOhio (NASDAQ: PKOH), through its Supply Technologie supply chain management services subsidiary, has completed the acquisition of SouthHampton, United Kingdom-based NYK Component Solutions, the company said.

NYK is a distributor of circular connectors and accessories for use in aerospace, defense, and other industrial applications. NYK will provide complementary product lines and new customer opportunities throughout Europe and North America, the company said.

ParkOhio expects annual sales from NYK to exceed USD 10m and the acquisition to be immediately accretive to earnings.

ParkOhio provides supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products.

Headquartered in Cleveland, Ohio, ParkOhio operates more than 120 manufacturing sites and supply chain logistics facilities worldwide, through three reportable segments: Supply Technologies, Assembly Components and Engineered Products.
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Date Published: 22/04/2021

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