CLEVELAND, Sept. 25 /PRNewswire-FirstCall/ -- Parker Hannifin (NYSE: PH), the global leader in motion and control systems and technologies, will mark 10 years of successful retail network expansion with the opening of its 200th ParkerStore in the United States. The newest ParkerStore is located in Manassas, Virginia.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
Parker will celebrate the anniversary and opening with an open house at the Manassas store on October 2, as well as a collection of banners and commemorative items in stores across the U.S. The first ParkerStore opened in Cleveland in 1993.
The company said it intends to increase the pace of expansion of the successful concept in the coming years. "A consistently profitable extension of our customer operations, ParkerStores have opened new markets and been a significant revenue driver for the company," said Jack Myslenski, Executive Vice President of Sales, Marketing and Operations Support. "We see continued opportunity to open more ParkerStores in the U.S. and even greater prospects worldwide."
The ParkerStore concept was the first of its kind in the industry. ParkerStores feature the most complete hose and fitting inventory in the industry with 3,000 parts in stock and an increasingly expanded range of other Parker products from the hydraulics, automation, filtration, climate & industrial controls, and seal groups. In addition to product, ParkerStores provide technical expertise, product training, troubleshooting and alternate system solutions. ParkerStores also offer a 24/7 emergency assistance service.
With locales close to industrial product buyers, ParkerStores offer a convenient shopping environment with well-stocked shelves, wide aisles, displays, merchandizing aids and knowledgeable sales people. Parker provides support staff specializing in retail trade, national promotions such as racing program sponsorships and trade show support, a global directory, point of purchase displays, sales literature, yellow pages advertising, and training.
"The independently owned stores are a growing part of Parker's worldwide network of 8,500 distributors," said Myslenski. "Despite a general decline in the traditional industrial distribution business, the ParkerStore network has grown at an annual rate of 23 percent. We now have more than 400 ParkerStores worldwide."
He continued, "With our ParkerStore family, we are able to meet the needs of customers we couldn't reach before. And the stores have also proved very popular with our distributors. Since we opened our first ParkerStore with Mega Fluidline Products, Inc. in Cleveland in 1993, 70 percent of our U.S. distributors have become store owners, and more than 40 percent operate in more than one location. The stores' total focus on superb customer service has earned us a high percentage of repeat customers and repeat store owners."
With annual sales exceeding $6 billion, Cleveland-based Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs more than 46,000 people in 44 countries around the world. For more information, visit the company's web site at www.parker.com or its investor information site at www.phstock.com .
SOURCE Parker Hannifin Corporation
CONTACT: Media, Brad Fischer, Retail Services Manager, +1-216-896-3473, or firstname.lastname@example.org, or Lorrie Paul Crum, V.P., Corporate Communications, +1-216-896-2750, or email@example.com, or Sharon Dunlap, Corporate Communications, +1-216-896-2757, or firstname.lastname@example.org, all of Parker Hannifin Corporation
Web site: http://www.phstock.com