CLEVELAND, Sept. 5, 2013 /PRNewswire/ --
The global technology platforms - Motion Systems, Flow and Process Control, and Filtration and Engineered Materials - are strategically aligned based on complementary technologies. The Motion Systems platform includes the company's hydraulics, pneumatics and electromechanical product lines produced by the Hydraulics and Automation groups. The Flow and Process Control platform includes instrumentation, connectors and refrigeration offerings from the Fluid Connectors and Instrumentation groups. The Filtration and Engineered Materials platform includes filtration systems, filters, and sealing and shielding products produced by the company's Filtration and Engineered Materials groups. Historical quarterly sales data is included in this press release and additional information is included in an Investor Fact Book, linked here and available at Parker's investor information web site at www.phstock.com.
"Parker has been transformed significantly through the successful implementation of the Win Strategy," said Chairman, CEO and President,
With annual sales of
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, including its 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 economic environment, and growth, innovation and global diversification initiatives. A change in the economic conditions in individual markets may have a particularly volatile effect on segment performance. Among other factors which may affect future performance are: changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments, disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the anticipated closing of the previously announced joint venture with GE Aviation; the determination to undertake business realignment activities and the expected costs thereof and, if undertaken, the ability to complete such activities and realize the anticipated cost savings from such activities; the ability to realize anticipated benefits of the consolidation of the
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