CLEVELAND, May 21 /PRNewswire-FirstCall/ -- Parker Hannifin Corporation
(NYSE: PH), the world leader in motion and control technologies, announced
that its Parker Aerospace business group has received the Rolls-Royce Supplier
of the Year award for gas turbine engines.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
"Parker is delighted to have been given this honor by Rolls-Royce," said
Parker Aerospace Vice President of Operations Joel Benkie. "Parker has been
supporting Rolls-Royce for over three decades, and we will continue to focus
on providing premier customer service, participating in key initiatives, and
building on our partnership."
Parker received this inaugural supplier of the year award at the recent
Rolls-Royce global supplier forum. Rolls-Royce considered such factors as
Parker's consistent quality and delivery performance, proactive focus on root
causes and improvement opportunities, and joint work with Rolls-Royce in key
initiatives.
Parker supports Rolls-Royce sites around the world in the energy, defense,
and civil business sector. Most recently, Parker has entered into a
partnership deal to work with Rolls-Royce on the new Trent XWB engine,
providing the pneumatics suite, hydraulic EBU system, and lubrication and oil
scavenge pump.
About Parker Aerospace
Parker Aerospace is an operating segment of Parker Hannifin Corporation.
Parker Aerospace designs, manufactures, and services hydraulic, fuel, flight
control, pneumatic, electronics cooling, and fluid conveyance components and
systems, and related electronic controls for aerospace and other
high-technology markets. Based in Irvine, California, its product lines
include flight control actuation systems and components, thrust-reverser
actuation systems, electrohydraulic servovalves, utility hydraulic systems and
components, DC motor pumps, fuel pumps, motor operated valves and fuel
equipment, lubrication oil reservoirs, lubrication and scavenge pumps, fuel
measurement and management systems, cockpit instrumentation, flight inspection
systems, lightning-safe products, pneumatic subsystems and components, fluid
metering delivery and atomization devices, wheels, brakes, and fluid
conveyance products such as hoses, tubes, disconnects, and fittings.
About Parker Hannifin
With annual sales exceeding $12 billion in fiscal year 2008, 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 mobile, industrial and aerospace markets. The company employs
approximately 62,000 people in 48 countries around the world. Parker has
increased its annual dividends paid to shareholders for 53 consecutive years,
among the top five longest-running dividend-increase records in the S&P 500
index. For more information, visit the company's web site at
http://www.parker.com, or its investor information site at
http://www.phstock.com.
Forward-Looking Statements
Forward-looking statements contained in this and other written and oral
reports are made based on known events and circumstances at the time of
release, and as such, are subject in the future to unforeseen uncertainties
and risks. All statements regarding future performance, earnings projections,
events or developments are forward-looking statements. It is possible that the
future performance and earnings projections of the company and individual
segments may differ materially from current expectations, depending on
economic conditions within its mobile, industrial and aerospace markets, and
the company's ability to maintain and achieve anticipated benefits associated
with announced realignment activities, strategic initiatives to improve
operating margins, actions taken to combat the effects of the current
recession, and growth, innovation and global diversification initiatives. A
change in economic conditions in individual markets may have a particularly
volatile effect on segment results. Among the other factors which may affect
future performance are: changes in business relationships with and purchases
by or from major customers or suppliers, including delays or cancellations in
shipments, disputes regarding contract terms or significant changes in
financial condition; uncertainties surrounding timing, successful completion
or integration of acquisitions; threats associated with and efforts to combat
terrorism; uncertainties surrounding the ultimate resolution of outstanding
legal proceedings, including the outcome of any appeals; competitive market
conditions and resulting effects on sales and pricing; increases in raw
material costs that cannot be recovered in product pricing; the company's
ability to manage costs related to employee retirement and health care
benefits and insurance; and global economic factors, including manufacturing
activity, air travel trends, currency exchange rates, difficulties entering
new markets and general economic conditions such as inflation, deflation,
interest rates and credit availability. The company makes these statements as
of the date of this disclosure, and undertakes no obligation to update them.
SOURCE Parker Hannifin Corporation
CONTACT:
Media - Allison Dittmeier, Media Relations & Communications
Manager, Parker Aerospace, +1-949-851-3515
adittmeier@parker.com
Financial
Analysts - Pamela Huggins, Vice President - Treasurer, +1-216-896-2240
phuggins@parker.com
/Photo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com/
/Web Site: http://www.parker.com
Parker Hannifin Corporation; Parker Aerospace;
Rolls-Royce
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Ohio
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