[THE INVESTOR] LS Industrial Systems said on Dec. 5 that it has acquired US-based Parker Hannifin’s energy storage system business to create a new affiliate there.
The acquisition of Parker Hannifin’s Energy Grid Tie division allows LSIS to establish LS Energy Solutions.
The value of the deal and other details were not disclosed.
LS Energy Solutions takes over all current US sales, engineering and manufacturing capabilities of the Parker EGT division.
The former Parker EGT division started the ESS business in 2007 and retains top-level ESS-related technologies, according to LSIS.
By Song Seung-hyun and newswires (email@example.com)