Latest In Parker Hannifin
In Parker Hannifin's Industrial North America segment, first quarter sales declined 29.3%.
Cleveland, OH-based Parker Hannifin Corp., manufacturer of motion and control technologies, reported sales for the fiscal year 2009 were $10.3 billion, a decline of 15.1% from the previous year. Profit for the year fell 46.4% to $508.5 million. "We started the year strongly, however, our performance in the second half of the year reflected the impact of the ongoing global recession, which resulted in significantly reduced order rates," said CEO and President Don Washkewicz.
Fiscal 2009 fourth quarter sales were $2.2 billion, a decline of 33.9% from $3.3 billion in the same quarter a year ago. Profit for the fourth quarter declined 80.4% to $49.5 million from $252.6 million in the fourth quarter of fiscal 2008.
Washkewicz added: "Our fourth quarter performance was influenced by ...
Parker Hannifin Corp., Cleveland, OH, a manufacturer of motion and control technologies, reported sales of $2.3 billion for its fiscal year 2009 third quarter ended March 31, down 26.3% from the same quarter a year ago. Profit declined 79.1% to $53.4 million. Results include expenses related to legal proceedings associated with the company's Parker ITR subsidiary, which were largely offset by an ITR related net tax benefit.
"Third quarter results reflect the impact of the global recession," CEO and President Don Washkewicz said. "Weakness in customer order trends that began in the second quarter continued through the third quarter across almost all markets.
The company has already implemented a series of cost-reduction measures, including ...
"Third quarter results reflect the impact of the global recession," CEO and President Don Washkewicz said. "Weakness in customer order trends that began in the second quarter continued through the third quarter across almost all markets.
The company has already implemented a series of cost-reduction measures, including ...
Parker Hannifin, Cleveland, OH, reported sales of $2.7 billion for fiscal 2009 second quarter ending Dec. 31, 2008, a decline of 5% from the same quarter a year ago. Profit declined 26.7% to $155.4 million.
"Current quarter results reflect the fact that the global recession has deepened and widened in recent months and creates some uncertainty for the remainder of our fiscal year and throughout calendar 2009," said Don Washkewicz, president and CEO.
Segment Results
In the Industrial North America segment, second-quarter sales increased slightly to $993 million, and operating income declined 24% to $107.6 million, compared with the same period a year ago.
In the Industrial International segment, second-quarter sales declined ...
"Current quarter results reflect the fact that the global recession has deepened and widened in recent months and creates some uncertainty for the remainder of our fiscal year and throughout calendar 2009," said Don Washkewicz, president and CEO.
Segment Results
In the Industrial North America segment, second-quarter sales increased slightly to $993 million, and operating income declined 24% to $107.6 million, compared with the same period a year ago.
In the Industrial International segment, second-quarter sales declined ...
Parker Hannifin, Cleveland, OH, manufacturer in motion and control technologies, has acquired Detroit Plasticos e Metais S/A, a Brazilian manufacturer of high performance fittings, valves, manifolds, and thermoplastic tubing. Detroit's products are used throughout Latin America in oil and gas, petrochemical, pulp and paper, mining, transportation, steel, construction and agricultural markets. Detroit will become part of Parker's Fluid Connectors business in Brazil with future sales reported as part of the Industrial International segment. Terms of the transaction were not disclosed.
The acquisition of Detroit Plasticos e Metais strengthens Parker's position as the number one supplier of instrumentation and connector products in Brazil," said Ricardo Machado, President ...
The acquisition of Detroit Plasticos e Metais strengthens Parker's position as the number one supplier of instrumentation and connector products in Brazil," said Ricardo Machado, President ...
Parker Hannifin Corp., Cleveland, OH, manufacturer in motion and control technologies, has acquired Nexgen Hose Inc., Fergus, Ontario, Canada. Nexgen is a manufacturer of industrial PVC hose and tubing for niche and industry standard applications. These products are used in medical, agriculture, mining, diving, potable water/beverage and fire suppression industries.
In 2007, Nexgen recorded revenues of $7.2 million. Nexgen sales will be recorded within the Industrial North America segment of Parker's Fluid Connectors Group.
Nexgen strengthens Parker's position in the North American industrial hose market, broadening our total product offering with the addition of PVC hose and tubing," said Bob Bond, President of Parker's Fluid Connectors ...
In 2007, Nexgen recorded revenues of $7.2 million. Nexgen sales will be recorded within the Industrial North America segment of Parker's Fluid Connectors Group.
Nexgen strengthens Parker's position in the North American industrial hose market, broadening our total product offering with the addition of PVC hose and tubing," said Bob Bond, President of Parker's Fluid Connectors ...
Parker Hannifin Corp., Cleveland, OH, manufacturer in motion and control technology, has acquired Matrx nitrous oxide delivery systems from the Midmark Corp. The new line will allow Parker to expand its geographic market space for dental nitrous systems to global markets outside its current North American base of operations.
Midmark's sales of the Matrx product line in its most recent fiscal year were $7 million.
The Matrx nitrous oxide delivery system includes digital flowmeters, manifold systems, standard analog flowmeters and breathing circuits.
Parker Hannifin has sales of more than $12 billion ...
Midmark's sales of the Matrx product line in its most recent fiscal year were $7 million.
The Matrx nitrous oxide delivery system includes digital flowmeters, manifold systems, standard analog flowmeters and breathing circuits.
Parker Hannifin has sales of more than $12 billion ...
Parker Hannifin Corp., Cleveland, OH, a manufacturer of motion and control technology, has acquired Aqua Pro, Inc., a manufacturer of reverse osmosis filtration systems for military, commercial and pleasure marine applications. Aqua Pro sales for fiscal 2008 were $33 million. Results will be reported as a component of Parker's Industrial North America segment. Terms of the acquisition were not disclosed.
With manufacturing centers in Gardena and San Fernando, California, Aqua Pro does business as Village Marine Tec and Offshore Marine Laboratories. Sales and service locations are located in California, Florida, Hawaii, Virginia, and Washington. The company sells to Original Equipment Manufacturers including boat and ship builders, independent distributors, U.S. military ...
With manufacturing centers in Gardena and San Fernando, California, Aqua Pro does business as Village Marine Tec and Offshore Marine Laboratories. Sales and service locations are located in California, Florida, Hawaii, Virginia, and Washington. The company sells to Original Equipment Manufacturers including boat and ship builders, independent distributors, U.S. military ...
Parker Hannifin Corp., Cleveland, OH, a manufacture in motion and control technologies, has acquired Malaysia-based EmiTherm Sdn Bhd, a provider of electromagnetic interference (EMI) shielding and thermal management products. Terms of the transaction were not disclosed.
EmiTherm will be integrated into the Chomerics Asia-Pacific Division, a unit of Parker's global Seal Group.
EmiTherm enjoys a strategic footprint in Malaysia, enabling us to effectively serve our customers throughout the region. The acquisition of EmiTherm provides us with strategic advantage in this vital electronics manufacturing region, offering global customers access to products and efficient supply chain management," Heinz Droxner, president of Parker's Seal Group, ...
EmiTherm will be integrated into the Chomerics Asia-Pacific Division, a unit of Parker's global Seal Group.
EmiTherm enjoys a strategic footprint in Malaysia, enabling us to effectively serve our customers throughout the region. The acquisition of EmiTherm provides us with strategic advantage in this vital electronics manufacturing region, offering global customers access to products and efficient supply chain management," Heinz Droxner, president of Parker's Seal Group, ...
Parker Hannifin, Cleveland, OH, reported fiscal 2009 first-quarter sales of $3.1 billion, an increase of 10% from the same period a year ago. Profit was up 9% to $250.2 million. Organic sales growth was 4%.
The Win Strategy initiatives we have been implementing over the past seven years have better prepared us to weather this uncertainty in our markets," said CEO and President Don Washkewicz. "For example, today, we have exposure to a greater number of end markets, many of them less cyclical than before. We also have much better geographic balance with greater than 50% of our industrial segment revenues and profits generated from international markets.
"Additionally, our cost structure is much more flexible than in the past and our ongoing focus on lean ...
The Win Strategy initiatives we have been implementing over the past seven years have better prepared us to weather this uncertainty in our markets," said CEO and President Don Washkewicz. "For example, today, we have exposure to a greater number of end markets, many of them less cyclical than before. We also have much better geographic balance with greater than 50% of our industrial segment revenues and profits generated from international markets.
"Additionally, our cost structure is much more flexible than in the past and our ongoing focus on lean ...
Parker Hannifin Corp., Cleveland, OH, manufacturer in motion and control technology, has acquired three companies whose total sales in the most recent fiscal year approached $500 million.
The three businesses that Parker acquired are: Legris, SA; Origa Group; and Hargraves Technology Corp. According to Parker, the acquisitions reflect the company's goal of diversifying operations internationally, extending and complementing existing technologies, and taking advantage of opportunities in less cyclical end markets, such as life sciences.
Legris SA, Rennes, France, is a manufacturer of fluid circuit components and systems for pneumatic, hydraulic, and chemical processing applications. These products are typically used in automotive process, transportation, ...
The three businesses that Parker acquired are: Legris, SA; Origa Group; and Hargraves Technology Corp. According to Parker, the acquisitions reflect the company's goal of diversifying operations internationally, extending and complementing existing technologies, and taking advantage of opportunities in less cyclical end markets, such as life sciences.
Legris SA, Rennes, France, is a manufacturer of fluid circuit components and systems for pneumatic, hydraulic, and chemical processing applications. These products are typically used in automotive process, transportation, ...
Parker Hannifin Corp., Cleveland, OH, a manufacturer of motion and control technologies, has acquired Lingk &Sturzebecher of Stuhr, Germany, a manufacturer of light weight carbon fiber high pressure cylinders and actuators including those based on composite technologies, for aerospace, mobile and industrial markets.
This composite material technology will enable Parker to develop hydraulic components with significantly reduced energy burden for the power systems of machines equipped with hydraulics.
Terms of the transaction were not disclosed. In the fiscal year ended Dec. 31, 2007, L&S achieved 7.6 million euros (approximately US$11.2 million) in sales.
L&S will become part of the global operations of Parker's hydraulic technology business. It will ...
This composite material technology will enable Parker to develop hydraulic components with significantly reduced energy burden for the power systems of machines equipped with hydraulics.
Terms of the transaction were not disclosed. In the fiscal year ended Dec. 31, 2007, L&S achieved 7.6 million euros (approximately US$11.2 million) in sales.
L&S will become part of the global operations of Parker's hydraulic technology business. It will ...
Parker Hannifin Corp., Cleveland, OH, manufacturer of motion and control technologies and systems, reported sales for the fourth quarter ended June 30, 2008, were $3.3 billion, an increase of 13.3% over fourth quarter 2007. Profit was $252.6 million, 16.3% more than the same period a year ago.
For the 2008 fiscal year, the company reported sales of $12.1 billion, an increase of 13.3% over 2007. Profit increased 14.4% to $949.5 million, compared to the prior year. Organic sales growth was 4.8% for the year.
Despite challenging economic conditions, our continued focus on the core goals of the Win Strategy has enabled us to consistently produce record results for our shareholders,"said CEO and President Don Washkewicz. "Our sales growth also demonstrates the ...
For the 2008 fiscal year, the company reported sales of $12.1 billion, an increase of 13.3% over 2007. Profit increased 14.4% to $949.5 million, compared to the prior year. Organic sales growth was 4.8% for the year.
Despite challenging economic conditions, our continued focus on the core goals of the Win Strategy has enabled us to consistently produce record results for our shareholders,"said CEO and President Don Washkewicz. "Our sales growth also demonstrates the ...
Parker Hannifin Corp., manufacturer in motion and control technologies, has acquired Titan Industries, South Gate, CA, a manufacturer of industrial rubber, custom made and composite hoses for fluid and material transfer as well as related products, services, and accessories.
Titan has additional locations in Houston, Texas and Salisbury, NC, and employs 150 people.
Titan Industries achieved sales of $28 million last year. The acquisition of Titan strengthens Parker's position as an industry leader in the industrial hose market by expanding the product offering and providing entrance into the marine, aircraft, food and dock side refueling markets.
Titan will be integrated into the Industrial Hose Products Division, part of Parker's Fluid Connectors ...
Titan has additional locations in Houston, Texas and Salisbury, NC, and employs 150 people.
Titan Industries achieved sales of $28 million last year. The acquisition of Titan strengthens Parker's position as an industry leader in the industrial hose market by expanding the product offering and providing entrance into the marine, aircraft, food and dock side refueling markets.
Titan will be integrated into the Industrial Hose Products Division, part of Parker's Fluid Connectors ...
Parker Hannifin Corp., Cleveland, OH, supplier in motion and control technologies, has acquired the remaining stake in its joint venture, Parker Seal de Mexico. Parker held a 49% stake in the $8.3 million revenue company prior to acquiring the remaining interest from multiple joint venture partners.
The acquired operation will become part of Parker's Seal Group, and its results will be reported within the Industrial North America business segment. Now, as the sole owner of this operation, Parker can sell any of its thousands of seal products into the Mexican market," said Heinz Droxner, president of Parker's Seal Group. "This is part of our long-term strategy to serve customers who have operations in Mexico, and positions Parker to meet all of their sealing requirements ...
The acquired operation will become part of Parker's Seal Group, and its results will be reported within the Industrial North America business segment. Now, as the sole owner of this operation, Parker can sell any of its thousands of seal products into the Mexican market," said Heinz Droxner, president of Parker's Seal Group. "This is part of our long-term strategy to serve customers who have operations in Mexico, and positions Parker to meet all of their sealing requirements ...
Cleveland, OH-based Parker Hannifin, supplier in motion and control technologies, reported sales in the third quarter 2008 were up 14.4% to $3.2 billion. Profit was up 22% to $255.4 million.
Organic growth was 4.3%.
In the Industrial North America segment, third-quarter sales increased 3.7% to $1.1 billion.
In the Industrial International segment, third-quarter sales increased 32.2% to $1.3 billion.
In the Aerospace segment, third-quarter sales increased 7.7% to $470.1 million. During the quarter, this segment was awarded a $2 billion long-term contract to supply the fuel package and hydraulic system for the new Airbus A350 XWB aircraft.
In the Climate &Industrial Controls segment, third-quarter sales increased 0.5% to ...
Organic growth was 4.3%.
In the Industrial North America segment, third-quarter sales increased 3.7% to $1.1 billion.
In the Industrial International segment, third-quarter sales increased 32.2% to $1.3 billion.
In the Aerospace segment, third-quarter sales increased 7.7% to $470.1 million. During the quarter, this segment was awarded a $2 billion long-term contract to supply the fuel package and hydraulic system for the new Airbus A350 XWB aircraft.
In the Climate &Industrial Controls segment, third-quarter sales increased 0.5% to ...
Parker Hannifin Corp., Cleveland, OH, supplier in motion and control technologies, has acquired Vansco Electronics, a manufacturer of electronic controls, displays and terminals, communication and operator interfaces, and sensors. Vansco systems for mobile equipment, a primary Parker market, include key applications for agricultural, construction, material handling, bus, RV, and specialty truck equipment.
Vansco facilities in Canada, the U.S., Finland, Belgium, and the United Kingdom employ 1,005 people. In the fiscal year ending Aug. 31, 2007, Vansco achieved sales of $180 million. About 83 percent of Vansco's sales are made in Parker's Industrial North America reporting segment.
Vansco will become a part of the global operations of Parker's hydraulic ...
Vansco facilities in Canada, the U.S., Finland, Belgium, and the United Kingdom employ 1,005 people. In the fiscal year ending Aug. 31, 2007, Vansco achieved sales of $180 million. About 83 percent of Vansco's sales are made in Parker's Industrial North America reporting segment.
Vansco will become a part of the global operations of Parker's hydraulic ...
Parker Hannifin Corp., Cleveland, OH, supplier in motion and control technologies, has acquired HTR Holding Corp. and its subsidiaries, including Hi-Tech Rubber, Inc., Inland Technologies, Inc., Ventrex, Inc. and Accusil, Inc. The acquired companies operate under their own names.
HTR Holding Corp. sales for its fiscal year ended Dec. 31, 2007, on a consolidated basis, were $93 million.
The Hi-Tech Group companies provide precision plastic and elastomeric components for medical devices such as intravenous equipment, drug infusion pumps, masks, septums, respirator hoses, catheters and diaphragms sold directly to original equipment manufacturers. Hi-Tech also produces components for various pump valves, liquid control valves and other non-medical ...
HTR Holding Corp. sales for its fiscal year ended Dec. 31, 2007, on a consolidated basis, were $93 million.
The Hi-Tech Group companies provide precision plastic and elastomeric components for medical devices such as intravenous equipment, drug infusion pumps, masks, septums, respirator hoses, catheters and diaphragms sold directly to original equipment manufacturers. Hi-Tech also produces components for various pump valves, liquid control valves and other non-medical ...
Parker Hannifin Corp., supplier of motion and control technologies, filed a petition with the U.S. Department of Commerce and the International Trade Commission alleging unfair competition from the dumping of valves used in air conditioning systems by two manufacturers in China.
Specifically, the petition alleges that Sanhua group and DunAn group have and continue to sell front-seating service valves for residential air conditioners into the U.S. market at prices below their cost of production in China. Parker is petitioning for dumping penalties which will help to restore fair trade in the U.S. market.
Parker, which maintains operations in 43 countries, has annual sales of more than $10 ...
Specifically, the petition alleges that Sanhua group and DunAn group have and continue to sell front-seating service valves for residential air conditioners into the U.S. market at prices below their cost of production in China. Parker is petitioning for dumping penalties which will help to restore fair trade in the U.S. market.
Parker, which maintains operations in 43 countries, has annual sales of more than $10 ...
