384:
47:
38:
2012:
261:
244:
227:
210:
187:
1998:
428:, Ohio, residents. After Arthur Parker's death in 1945 and the end of the war, the company neared bankruptcy due to the sudden drop in demand. Arthur Parker's wife, Helen Parker, assumed control of the company and prevented its liquidation. She hired new management staff and directed the company's focus back to civilian manufacturing.
383:
486:
flight controls and wheel brake equipment for airplanes. By 1979, Parker
Hannifin employed 20,000 people in 100 plants, selling 90,000 items for machinery, airplanes, cars and construction equipment to 60,000 customers. The company made some of the equipment inside the mechanical shark in the 1975 movie
495:
In 1982, Paul G. Schloemer replaced
Patrick Parker as the company's president (although Patrick Parker remained chairman and CEO). That same year, the firm entered the Mexican market. By 2008, Parker Hannifin Mexico would come to operate 11 plants in the country, seven of which made parts exclusively
688:
ordered an upgrade of all Boeing 737 rudder control systems by
November 12, 2002. The firm argued that the components they supplied were not at fault, citing that the product has one of the safest records in its class, but the FAA directive went through regardless. In 2016, former NTSB investigator
533:
In 2002 the company appointed Craig
Maxwell as head of engineering; Maxwell brought a focus on innovation as well as rigor; he argued for and was given a $ 20M annual budget to fund blue sky inventions made by engineers and has given engineers time to pursue them; at the same time his team developed
485:
An economic downturn in 1970 forced the company to expand beyond its focus on hydraulic systems. In the following years it began to expand into the automotive aftermarket, considered a more stable industry. The company also directed itself toward growth in aerospace, acquiring companies that created
522:
Parker
Hannifin acquired Commercial Intertech Corporation, a maker of hydraulic systems, in 2000.Commercial Intertech had previously acquired Oildyne Inc., a well known hydraulic manufacturer. Parker has an Oildyne division today. With a cost of $ 366 million, this was at the time Parker Hannifin's
1441:
1419:
705:
line in the aircraft's propulsion system that controls the exhaust vectoring system. This followed an incident two days earlier on
January 16, in which the propulsion system experienced a fueldraulic failure prior to a conventional takeoff. The failure was found to be a manufacturing defect by
499:
The firm opened its first retail "ParkerStore" in
Cleveland in 1993. Within 10 years, the network of stores expanded to 200 locations in the U.S. and more than 400 worldwide. ParkerStores offer a variety of Parker products, including hydraulics, automation, and hose and fitting components, at
461:
began working full-time at the company. He rose to become its president in 1968, and served as CEO from 1971 to 1983 and as chairman from 1977 to 1999. During and after his tenure, the firm grew dramatically, with revenues rising from $ 197 million in 1968 to over $ 7 billion in 2005.
379:
brake systems for buses, trucks and trains. In 1919, Parker's truck slid over a cliff, causing the company to lose its entire inventory and forcing the founder to return to his previous job. Nonetheless, he restarted Parker
Appliance Company in 1924.
534:
software that allows tracking each of the company's 1700 ongoing R&D projects graded by risk and potential reward, and closely managing their progress. In 2011 he hired Ryan Farris out of
Vanderbilt University and licensed patents covering a
344:
since
December 9, 1964. The firm is one of the largest companies in the world in motion control technologies, including aerospace, climate control, electromechanical, filtration, fluid and gas handling, hydraulics, pneumatics,
741:
653:
In 1995, it was discovered that failures in a servo unit supplied by Parker Hannifin to Boeing for use in their 737 aircraft may have contributed to several accidents and incidents, including the crashes of
1980:
600:
Parker Hannifin's aerospace group designs and manufactures aerospace hydraulic equipment, flight controls, fuel system components, high-temperature bleed air valves, and other components. Headquartered in
574:
1903:
1504:
788:
2071:
689:
John Cox stated that time has proven the NTSB correct in its findings that the valve was faulty, because no additional rudder-reversal incidents have occurred since Boeing's redesign.
1611:
2091:
2076:
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1397:
749:
877:
2096:
530:
methods to company operations and has said that over the decade this reduced the time to obtain price quotes by 60% and cut product development lead times by 25%.
1115:
454:
and cylinder products, and changed its name to Parker Hannifin. Many more acquisitions followed, with the company reaching 40 acquisitions by the year 1979.
1914:
1513:
1037:
1969:
605:, Parker Aerospace operates facilities around the world. The company has had contracts to contribute parts and maintenance for machinery produced by
573:
for £6.3 billion. In July 2022, after making commitments to the UK government including increasing research and development spending in Britain, the
1221:
674:
614:
784:
624:
contracted Parker Aerospace to develop a new monitoring device, the Multi-Sensor Enroute Flight Inspection System, for flight inspection aircraft.
2106:
1716:
1456:
809:
771:
727:
1140:
774:". Parker Hannifin. March 28, 2012. Retrieved on December 25, 2012. "Parker Hannifin Corporation 6035 Parkland Blvd Cleveland OH 44124-4141 USA".
677:(NTSC) could not determine the cause of the crash due to the near total lack of physical evidence because of the complete destruction; The US
2066:
1528:
1489:
673:. Parker Hannifin subsequently appealed the verdict, which resulted in an out-of-court settlement for an undisclosed amount. The Indonesian
2101:
1008:
678:
1442:"Parker to Acquire Exotic Metals Forming Company in Strategic Transaction that Significantly Expands Aerospace Group Product Portfolio"
558:
Thomas Williams took over the CEO role from Washkewicz in 2015. In 2016, the company completed its largest acquisition to date, buying
1828:
202:
1665:
1375:
918:
698:
578:
1743:
1273:
908:
469:
in 1964, under the ticker symbol PH. In 1966, the company joined the Fortune 500. The company designed parts for the craft used in
1957:
840:
621:
639:
to form a 50–50 joint venture, Advanced Atomization Technologies, for producing fuel nozzles for commercial aircraft engines.
2081:
1166:
1063:
1326:
723:
1769:
1864:
1247:
655:
1638:
1299:
392:
665:
In 2004, a Los Angeles jury ordered Parker Hannifin to pay US$ 43 million to the plaintiff families of the 1997
500:
locations close to industrial product buyers. Parker Hannifin systems helped control the massive replica of the
325:, is an American corporation specializing in motion and control technologies. Its corporate headquarters are in
1352:
648:
450:", a goal it generally achieved in the coming decades. In 1957, the company purchased Hannifin, a producer of
46:
585:
466:
341:
81:
2043:
681:(NTSB), however disagreed, and concluded that the crash was caused, possibly intentionally, by the pilot.
375:
founded the firm as the Parker Appliance Company in Ohio around 1917 or 1918. In its early years, it built
1832:
326:
146:
1690:
1582:
1554:
1508:
610:
191:
584:
In May 2022, it was announced Parker Hannifin has sold its aircraft wheel and brake division to the
628:
535:
507:
409:
1478:
796:
666:
602:
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914:
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551:
458:
404:
330:
2003:
1512:
659:
636:
563:
511:
443:
388:
372:
253:
174:
135:
1836:
2017:
1799:
1484:
792:
632:
346:
514:, a suburb of Cleveland. In 1999, the company's sales reached approximately $ 5 billion.
403:
By 1927, the firm had expanded into airplanes. For his flight across the Atlantic Ocean,
1088:
942:
1858:
421:
284:
64:
566:
for $ 3.7 billion and Kent, WA based Exotic Metals Forming Company for $ 1.7 billion.
2060:
1804:
975:
72:
1195:
1777:
527:
417:
1479:"Meggitt's US suitor agrees deal with UK ministers to let £6.3bn takeover proceed"
424:
primary supplier of valves and fluid connectors. By 1943, the firm employed 5,000
545:
The company won $ 2 billion in contracts to build fuel and hydraulic systems for
538:
that Farris had worked on at Vanderbilt. In 2015 the company opened an internal
702:
569:
In August 2021, the company agreed to buy British aerospace and defense company
546:
488:
353:
2038:
1505:"Parker Hannifin closes acquisition of U.K. aerospace and defense firm Meggitt"
1457:"Defense firm Meggitt's shares skyrocket on sale to U.S. giant Parker Hannifin"
562:, a filtration systems manufacturer, for $ 4.3 billion. In 2019, Parker bought
510:. In 1997, the firm moved its headquarters from Cleveland to a new building in
1993:
447:
279:
219:
90:
37:
1612:"Naples-based Shaw Aero Devices acquired by Cleveland-based Parker Hannifin"
670:
474:
425:
413:. The firm contributed the system that linked the aircraft's 16 fuel tanks.
396:
376:
334:
124:
52:
549:
airliners in 2008 Two years later, its products were used in repairing the
1879:"Remembering the Musi – SilkAir Flight MI 185 Crash Victim Identification"
1196:"Parker Hannifin Agrees to Acquire Commercial Intertech for $ 366 Million"
349:, and sealing and shielding. Parker employs about 61,000 people globally.
878:"Innovation Factory: How Parker Hannifin Pumps Out Breakthrough Products"
1529:"Kaman to acquire Parker-Hannifin's aircraft wheel & brake division"
496:
for the U.S. market. In 1988, the company reached $ 2 billion in sales.
436:
In the early 1950s, the firm's executives set a goal to make Parker, as
1770:"What is the status of the solution to the B-737 rudder design defect?"
810:"The 2024 Fortune 500: These are Greater Cleveland's largest companies"
635:-based Shaw Aero Devices, in 2007. In 2012, the company partnered with
570:
559:
502:
407:
requested Parker parts be used in the construction of his aircraft the
17:
1353:"Parker-Hannifin to buy Clarcor to double filtration systems business"
2048:
606:
85:
340:
The company was founded in 1917 and has been publicly traded on the
1970:"Engineers discover culprit behind F-35B fueldraulic line failure."
1944:
451:
236:
1717:"Company News; Parker Hannifin to Buy Pneumo Abex Aerospace Unit"
1461:
470:
575:
Secretary of State for Business, Energy and Industrial Strategy
1910:
1666:"Parker-Hannifin Aerospace Unit to Develop Phyre's Technology"
685:
1904:"Airworthiness Directives; Boeing Model 737 Series Airplanes"
1274:"Parker-Hannifin: Acquisitions, Win Strategy to Drive Growth"
841:"Meet Parker Hannifin, a 100 year-old company working on AR"
581:
investigation. The acquisition completed in September 2022.
1398:"Parker Hannifin to buy Lord Corp for about $ 3.68 billion"
2027:
785:
2010 CENSUS – CENSUS BLOCK MAP: Mayfield Heights city, OH
577:
approved the takeover without being referred for a full
1744:"GE and Parker Hannifin team up on jet engine nozzles"
1639:"Parker wins $ 2 billion in contracts for Airbus A350"
1300:"Parker wins $ 2 billion in contracts for Airbus A350"
724:"Parker Hannifin Corp. 2024 Annual Report (Form 10-K)"
631:-based Abex/NWL division of Pneumo Abex in 1996, and
295:
542:that Maxwell had proposed when he was first hired.
290:
278:
268:
251:
234:
217:
200:
181:
167:
157:
141:
131:
108:
100:
70:
60:
1477:
1327:"Parker Hannifin CEO Don Washkewicz Stepping Down"
1583:"Parker Hannifin to Add to Irvine Aerospace Unit"
1222:"Parker Hannifin to Acquire Commercial Intertech"
1141:"Former Parker Hannifin home will be transformed"
1116:"Parker Hannifin opens 200th ParkerStore in U.S."
627:Notable acquisitions by the division include the
2072:Companies listed on the New York Stock Exchange
2034:Business data for Parker-Hannifin Corporation:
420:, Parker experienced a boom in business as the
910:Vault Guide to the Top Manufacturing Employers
697:On January 18, 2013, the F-35B variant of the
1958:F-35B grounded after fueldraulic line failure
1038:"Parker-Hannifin Names Successor to a Parker"
913:. New York, NY: Vault Inc. pp. 337–338.
8:
1420:"Parker Hannifin Completes LORD Acquisition"
391:relocated his headquarters into an expanded
30:
2092:Manufacturing companies established in 1917
2077:Conglomerate companies of the United States
1002:
1000:
998:
996:
871:
869:
867:
865:
863:
861:
352:In 2024, the company was ranked 216 in the
2087:Manufacturing companies based in Cleveland
45:
29:
1691:"Parker Bertea Gets $ 5-Million Contract"
1220:The Associated Press (January 18, 2000).
1031:
1029:
1800:"Pittsburgh disaster adds to 737 doubts"
1272:Zacks Equity Research (March 13, 2017).
1189:
1187:
969:
967:
965:
963:
834:
832:
830:
675:National Transportation Safety Committee
615:Commercial Aircraft Corporation of China
382:
1664:Zacks Equity Research (July 12, 2016).
1492:from the original on December 10, 2022.
1248:"Parker Hannifin Aims to WIN with Lean"
1167:"Parker Hannifin European Headquarters"
902:
900:
898:
728:U.S. Securities and Exchange Commission
715:
706:Parker Hannifin's Stratoflex division.
526:In 2001, CEO Don Washkewicz introduced
2097:American companies established in 1917
1606:
1604:
1577:
1575:
1351:Banerjee, Arunima (December 1, 2016).
1960:– Flightglobal.com, January 18, 2013.
1503:Suttell, Scott (September 13, 2022).
1376:"Parker-Hannifin Is Hot in Cleveland"
1374:Lachapelle, Tara (December 1, 2016).
941:Klebnikov, Paul (September 8, 1997).
7:
1194:Davis, Patricia (January 18, 2000).
1007:Salpukas, Agis (December 28, 1979).
701:was grounded after the failure of a
679:National Transportation Safety Board
1827:Valerie Chew (September 30, 2009).
1742:Newberry, Jon (November 13, 2012).
1637:Roguski, Randy (January 17, 2008).
1298:Roguski, Randy (January 17, 2008).
1246:Selko, Adrienne (April 21, 2010).
1036:Sloane, Leonard (April 26, 1982).
643:Boeing 737 accidents and incidents
588:-headquartered aerospace company,
25:
1139:Bullard, Stan (August 23, 2015).
1095:. Case Western Reserve University
1093:Encyclopedia of Cleveland History
876:Alexander, Dan (April 15, 2015).
839:Zerega, Blaise (April 10, 2017).
799:. Retrieved on December 25, 2012.
772:CERTIFICATE OF PROPERTY INSURANCE
699:Lockheed Martin F-35 Lightning II
579:Competition and Markets Authority
2010:
1996:
1829:"Crash of SilkAir Flight MI 185"
1476:Wright, Robert (July 19, 2022).
1455:Smith, Elliot (August 2, 2021).
617:as well as other manufacturers.
260:
259:
243:
242:
226:
225:
209:
208:
186:
185:
36:
1062:Glenn, Brandon (July 7, 2005).
622:Federal Aviation Administration
306:Footnotes / references
2107:1960s initial public offerings
1325:Tita, Bob (January 21, 2015).
1165:Gerfen, Katie (July 7, 2011).
321:, usually referred to as just
1:
1064:"Parker namesake passes away"
1009:"Parker-Hannifin Buys Growth"
693:F-35 fueldraulic line failure
457:In 1953, Arthur Parker's son
395:location on the east side of
2067:Companies based in Cleveland
1860:SilkAir 185 – Pilot Suicide?
1114:Staff (September 30, 2003).
907:Slaton, Hunter, ed. (2006).
114:; 107 years ago
2102:1917 establishments in Ohio
1748:Cincinnati Business Courier
1723:. Reuters. January 16, 1996
1559:Parker Hannifin Corporation
465:The company debuted on the
315:Parker-Hannifin Corporation
31:Parker-Hannifin Corporation
2123:
1886:Annals Academy of Medicine
1145:Crain's Cleveland Business
1068:Crain's Cleveland Business
656:United Airlines Flight 585
646:
508:1997 film of the same name
1555:"Parker Operating Groups"
1400:. Reuters. April 29, 2019
1119:Control Engineering Daily
304:
44:
35:
649:Boeing 737 rudder issues
319:Parker Appliance Company
173:Jennifer A. Parmentier (
27:American technology firm
1331:The Wall Street Journal
1200:The Wall Street Journal
467:New York Stock Exchange
342:New York Stock Exchange
264:US$ 12.1 billion (2024)
247:US$ 29.3 billion (2024)
230:US$ 2.84 billion (2024)
213:US$ 3.81 billion (2024)
1981:"Stratoflex – Parker."
1833:National Library Board
1533:Aviation Business News
1517:on September 14, 2022.
1089:"Parker Hannifin Corp"
943:"Lindbergh's lifeline"
400:
327:Mayfield Heights, Ohio
147:Mayfield Heights, Ohio
2082:Cuyahoga County, Ohio
974:Krupa, Peter (2008).
791:May 15, 2013, at the
592:for US$ 440 million.
523:biggest acquisition.
386:
1920:on February 27, 2009
1839:on December 15, 2011
1509:Crain Communications
475:Moon landing in 1969
1865:National Geographic
629:Kalamazoo, Michigan
536:powered exoskeleton
410:Spirit of St. Louis
270:Number of employees
32:
1943:. Season 2. 2016.
1721:The New York Times
1697:. October 16, 1993
1618:. November 2, 2007
1589:. January 21, 1996
1422:. October 29, 2019
1226:The New York Times
1171:Architect Magazine
1042:The New York Times
1013:The New York Times
797:U.S. Census Bureau
752:on August 17, 2018
730:. August 22, 2024.
667:SilkAir Flight 185
603:Irvine, California
540:business incubator
439:The New York Times
401:
337:mailing address).
274:61,120 (2024)
51:Headquarters near
1774:airlinesafety.com
1768:Robert J. Boser.
1695:Los Angeles Times
1616:Naples Daily News
1587:Los Angeles Times
590:Kaman Corporation
552:Deepwater Horizon
459:Patrick S. Parker
405:Charles Lindbergh
331:Greater Cleveland
312:
311:
16:(Redirected from
2114:
2031:
2030:
2028:Official website
2020:
2015:
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2013:
2006:
2004:Companies portal
2001:
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1961:
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1941:Why Planes Crash
1936:
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1913:. Archived from
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1892:(10): 866. 2007.
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1835:. Archived from
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1796:
1790:
1789:
1787:
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1780:on July 29, 2012
1776:. Archived from
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1511:. Archived from
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1445:
1444:. July 29, 2019.
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748:. Archived from
738:
732:
731:
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660:USAir Flight 427
637:General Electric
564:Lord Corporation
512:Mayfield Heights
444:General Electric
422:U.S. Air Force's
373:Arthur L. Parker
300:
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203:Operating income
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175:Chairman and CEO
136:Arthur L. Parker
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2011:
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1939:"Fatal Flaws".
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