Parker-Hannifin Corporation
Company Profile
Business Overview
-The Company is a manufacturer of motion and control technologies, whose products include fluid power systems, electromechanical controls, and related components.
-The Company's business is comprised of two operating segments, the Diversified Industrial segment and the Aerospace Systems segment. The Diversified Industrial segment is further divided into the following four groups:
- Engineered Materials Group
- Filtration Group
- Fluid Connectors Group
- Motion Systems Group
-During 2023, the Company consolidated the Instrumentation Group with the Fluid Connectors Group. The consolidated group continues to service the major markets and offers the principal products provided by the former Instrumentation Group and Former Fluid Connectors Group.
Competition
-Bosch Rexroth
-Danaher
-Danfoss A/S
-Donaldson
-Emerson Climate Technology
-Emerson/ASCO
-Festo
-Freudenberg-NOK
-Gates
-IMI/Norgren
-SMC
-Swagelok
-Trelleborg
Shareholders
-The Company is listed on the New York Stock Exchange.
Products
Fluid connectors
-Brass fittings and valves
-Hose couplings
-PTFE hoses and tubings
-Quick couplings
-Rubbers and thermoplastic hoses
-Tube fittings and adapters
-Tubing and plastic fittings
Hydraulics
-Accumulators
-Hydraulic cylinders
-Hydraulic motors and pumps
-Hydraulic systems
-Hydraulic valves and controls
-Hydrostatic steerings
-Integrated hydraulic circuits
-Power take-off units
-Power units
-Rotary actuators
-Hybrid drive systems "RunWise"
Pneumatics
-Filters and dryers
-Pneumatic valves
-Pneumatic cylinders
-Rodlock actuators
-Pneumatic grippers
-Air preparation components
-Other actuators
Seals
-Elastomeric O-rings
-Metal & plastic retained composite seals
-Dynamic seals
-Extruded & precision-cut/fabricated elastomeric seals
-High temperature metal seals
-Fluid port seals
-Hollow O-rings
-Hollow keyhole extruded battery cover seals
-Carrier gaskets
-EMI shielding
-Thermal management products
Filtration
-Analytical gas generators
-Compressed air & gas filters and dryers
-Condition monitoring systems
-Engine air, fuel, oil filtration and systems
-Hydraulic, lubrication and coolant filters
-Nitrogen, hydrogen and zero air generators
-Process, chemical, water and microfiltration filters
-Supply side compressed air filtration
-Demand side compressed air filtration
Climate and industrial controls
-Accumulators
-CO2 controls
-Electronic controllers
-Filter driers
-Hand shut-off valves
-Heat exchangers
-Hoses and fittings
-Pressure regulating valves
-Refrigerant distributors
-Safety relief valves
-Solenoid valves
-Thermostatic expansion valves
-Air conditioning compressors
Electromechanical products
-Electric actuators
-Stepper and servo motors, drives, and controllers
-LCD display protection and enhancement
-Human machine interface systems
Hybrid and electric vehicle products
-Permanent Motor AC (PMAC) motors
-Thermal interface materials
-Premier conductive plastics to replace metal housings
-Electro-hydraulic pumps
Lord Automotive Solutions
-Hem flange adhesives
-Thermally conductive encapsulants, gap fillers and adhesives
-Adhesives for composites and plastics
-Rubber-to-substrate adhesives
-Flock adhesives
-Anti-friction coatings
-Post-vulcanization bonding
-In-mold bonding adhesives
-Magneto-rheological fluids and devices
-Structural adhesives for EVs and EV Batteries
History
| Dec. 1938 | Incorporated in Ohio as Parker Appliance Co. |
| Sep. 1957 | Present name adopted on acquisition of all shares of Hannifin Corp. |
| Oct. 1957 | Merged with Hannifin Corp. |
| Jun. 1993 | Formed a joint venture named SAES-Parker UHP Components Corp with Italy-based SAES Getters Group of Milan. |
| Feb. 1998 | Acquired Computer Technology Corporation. |
| Mar. 1998 | Formed two joint ventures which are HS-Parker Company Ltd. and HS Parker Air-Conditioning Components Company Ltd. in Korea. |
| Mar. 1998 | Acquired Temeto AB. |
| Mar. 1998 | Acquired Sempres Pneumatics and integrated the Company's Automation Business. |
| Aug. 1998 | Acquired the Fluid Power Systems division of Fluid Power Industries. |
| Oct. 1999 | Acquired Avantech Corporation of Big Spring, Texas, a company which designs and manufactures electronic controls and systems for the construction, rescue equipment, aerial reach, and municipality markets. |
| Jan. 2000 | The Company and Commercial Intertech Corp. announced that their Boards of Directors have unanimously approved a definitive agreement to merge in a cash-and-stock transaction with an equity value of approximately USD 366 million. In addition, Parker will assume approximately USD 107 million of Commercial Intertech debt. |
| Feb. 2000 | The Company and Dana Corporation announced their agreement for Parker to acquire the assets of Dana's Gresen Hydraulic business. |
| Mar. 2000 | Acquired Gummi-Metall Scheufele & Gienger GmbH, a manufacturer of compound sealing products in rubber-metal and rubber-plastic varieties, as well as custom moldings made with elastomers. |
| Apr. 2000 | The Company and Commercial Intertech announced the completion of their merger. |
| May 2000 | Completed its acquisition of Whatman's Industrial Business, which manufactures high quality purification products and gas generators for a variety of industrial applications. |
| Jun. 2000 | The Company and Wynn's International, Inc. entered into an agreement for Parker to acquire Wynn's International in a cash tender offer with a value of approximately USD 497 million. |
| Jul. 2000 | Acquired Atlantic Tubing, a supplier of premium quality tubing and extrusions for semiconductor, bio-process and electronics industries. |
| Sep. 2000 | Acquired Invensys Pneumatics, a line of equipment and controls for automated processes used in material handling, machinery and many types of manufacturing. |
| Jan. 2001 | Acquired Stainless Connections of Australia and New Zealand, a supplier of engineered and customized stainless steel fittings and adaptors for mobile and industrial markets. |
| Feb. 2001 | Acquired S.B.C. Electronica SpA, based in Milan, a company which provides highly engineered motion controllers and digital servo drives used in a variety of industrial processes, including packaging, assembly, printing and textile manufacturing. |
| Mar. 2001 | Acquired Fairly Arlon, a Netherlands-based manufacturer of hydraulic filters for mobile and industrial machinery. |
| May 2001 | Acquired Miller Fluid Power and Wilkerson, both from CKD-Createc. |
| Jun. 2001 | Launched a new type of plant in the Czech Republic highlights the Company's strategy for expanding in lower-cost production centers around the world. In a radical change from the way that Parker has traditionally operated, nine independent divisions will share common services in the 100,000-sq.-ft. incubator plant as they establish production in Central Europe. |
| Jul. 2001 | Announced that it has completed its acquisition of Dana Corporation's Chelsea Products Division, a leading supplier of power take-offs (PTOs) and related auxiliary power devices for medium- and heavy-duty vocational equipment. |
| Aug. 2001 | Completed the purchase of Eaton's Aeroquip Air Conditioning and Refrigeration (AC&R) business for an undisclosed amount, effective August 31, 2001. |
| Oct. 2001 | Announced it has acquired assets associated with the global fluid management business of Dayco Industrial from Mark IV/BC Partners. |
| Jan. 2002 | Announced the completion of a global marketing alliance agreement with Myotoku Ltd. of Tokyo, Japan, a manufacturer of vacuum technology products. |
| Feb. 2002 | Announced the completion of a long-term business alliance agreement with Animatics Corporation of Santa Clara, California, a manufacturer of integrated motor control systems. |
| The Company and Taiyo Ltd. (Osaka, Japan) announced their agreement to form a global strategic alliance, with a 40% equity investment by Parker in Taiyo. The transaction is to be completed in March. | |
| Completed the divestiture of assets related to the Wynn Warranty business, including stock of Wynn's Extended Care to Phoenix American Insurance Group, Inc. | |
| May 2002 | Acquired the assets of Camfil Farr's Engine Air Filter business. The Company's stock was used to complete the purchase, which will become part of the Company's Filtration Group. |
| Jun. 2004 | Acquired the assets of Mead Fluid Dynamics Ltd., the European subsidiary of Chicago-based Mead Fluid Dynamics Inc., for an undisclosed amount. |
| Aug. 2004 | Agreed to acquire Sporlan Valve of Washington, Missouri, U.S., a manufacturer of air conditioning and refrigeration components. |
| Nov. 2004 | Acquired Acadia Elastomers Corp., a maker of sealing products with USD 145 million in annual sales and almost 1,400 employees. |
| 2008 | Acquired Lingk & Sturzebecher (L&S) in Germany. |
| Acquired Origa Group. | |
| Acquired Legris SA. | |
| Acquired Detroit Plasticos e Metais S/A in Brazil. | |
| 2012 | Divested its automotive air conditioning business to ContiTech. |
| Jul. 2013 | Consolidated its Climate and Industrial Controls (CIC) group into other existing operating groups within the company's Industrial Segment. |
| Dec. 2016 | Acquire Clarcor for approximately USD 4.3 billion. |
| Oct. 2019 | Completed acquisition of Lord Corporation, a manufacturer of adhesives, coatings, vibration technologies and motion control technologies, for approximately USD 3.675 billion. |
| Mar. 2022 | Closed its office and warehouse facility in Moscow and no longer does business in this country. |
Supplemental Information 1
>>>Business Report up until FY ended Jun. 30, 2008
>>>Business Report up until FY ended Jun. 30, 2015
>>>Business Report up until FY ended Jun. 30, 2016
>>>Business Report up until FY ended Jun. 30, 2017
>>>Business Report up until FY ended Jun. 30, 2018
>>>Business Report up until FY ended Jun. 30, 2019
Note: A figure in brackets ( ) indicates a loss
