Federal Hose Acquires Marine Products International

CLEVELAND, Jan. 06, 2020 (GLOBE NEWSWIRE) -- Federal Hose Manufacturing LLC, an operating company owned by Crawford United Corporation (OTC: CRAWA), today announced the purchase of Marine Products International (MPI), located in Eastlake, Ohio. The transaction became effective as of January 1, 2020. The acquired business, which will continue to operate under the name MPI, provides rubber and plastic hoses to the recreational marine industry.

The acquisition is expected to add approximately $18 million in annual revenue to the Industrial Hose business segment of Crawford United and be immediately accretive to earnings.

About Crawford United Corporation. Crawford United Corporation is a growth-oriented holding company providing specialty industrial products to diverse markets, including healthcare, aerospace, education, transportation, and petrochemical. The company currently operates three business segments. The Industrial Hose business is a premier manufacturer of flexible interlocking metal hoses and a distributor of a full line of branded silicone, hydraulic, plastic and rubber hose products. The Aerospace Components business specializes in highly complex precision components primarily for customers in the commercial aviation industry, offering complete end-to-end engineering, machining, grinding, welding, brazing, heat treat, and assembly solutions. The Commercial Air Handling business is a leader in designing, manufacturing, and installing highly customized, large-scale commercial, institutional, and industrial air handling solutions. For more information, go to .

  

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