Oct 5 (Reuters) - Parker Hannifin Corp :
* Agrees to acquire Velcon Filters to strengthen its position in aviation and
industrial fuel and process filtration applications
* Says terms of the transaction were not disclosed and are subject to
regulatory approval
* Says acquired company will become a part of parker's filtration group
* Says signed an agreement to acquire Velcon Filters, LLC, from the Sterling
Group LP, a private equity firm
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