This month 35 years ago, PHI (then a division of Tulip Corp.) acquired the machine tool division of Conrac Corp. The Los Angeles Times concisely reported the business transaction:
This Month In History: PHI acquires Conrac Corp. machine tool division
![Conrac Sells Machine Tool Unit to PHI (Los Angeles Times - August 1985)](http://phihydraulics.com/wp-content/uploads/2020/08/850808-LA-Times-Conrac-Sells-to-PHI-Tulip-feat-848x450.png)