Parker-Hannifin Corporation

Company Profile

■URL

https://www.parker.com/

■Address

6035 Parkland Blvd., Cleveland, Ohio 44124-4141 USA

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.

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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"
-Electrohydraulic pumps (ePumps)
-Power take-offs (PTO)
-Electric power take-offs (ePTO)

Pneumatics
-Filters and dryers
-Pneumatic valves
-Pneumatic cylinders
-Rodlock actuators
-Pneumatic grippers
-Air preparation components
-Other actuators
-Network connectivity (Fieldbus)
-Based mounted valves
-Body ported valves
-Vacuum cups

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
-Engine oil cooler gaskets
-Transmission oil cooler gaskets
-Rubber to metal edge bonded carrier gasket seals
-Bonded fasteners and fittings for HVAC and battery cooling
-Bonded slimline washer seals for EVs
-High-performance thermally conductive gap filler pads for EV battery packs

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

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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.