Parker Hannifin is set to significantly expand its Aerospace & Defense footprint by acquiring CIRCOR’s commercial and defense aerospace business, adding flight-critical motion and flow control technologies tied to major OEM and defense platforms.
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It will position Parker as of the largest global industrial filtration businesses and significantly expand aftermarket capabilities and offerings.
Full-year sales were flat annually, but the company saw orders improve across all divisions in 4Q.
Parker Hannifin agreed to acquire Curtis Instruments for $1 billion in cash to expand its electrification capabilities.
Parker appointed a new President for its Filtration Group, effective July 1, as the group's current president will retire at the end of August.
Parker Hannifin’s METC program helps manufacturers transition from diesel to electric mobile equipment, while addressing technical and regulatory challenges.
The Composites and Fuel Containment Division manufactures composites, fuel tanks and bladders across six U.S. and Mexico-based facilities.
The company raised its outlook for operating margins, driven by strong performance in its Aerospace Systems segment.
Parker Hannifin’s divestiture of several businesses in the past three years totals nearly $450 million in annual sales.
Parker Hannifin's Board elected COO Andrew Ross as the company's President, and elected CEO Jennifer Parmentier as Chairman.
Parker’s board of directors also promoted Jennifer A. Parmentier and Berend Bracht to new leadership positions.
Company acquires Jger Automobil-Technik and Jger Automotive Polska.
