Federal Hose Manufacturing acquired Marine Products International of Eastlake, Ohio, for an undisclosed sum. A statement noted that the provider of rubber and plastic hoses to the marine industry will continue to operate under the MPI name. Federal Hose is an operating company owned by Crawford United Corp.
The acquisition is expected to add approximately $18 million in annual sales to the industrial hose business segment of Crawford United and be immediately accretive to earnings, said the statement.
