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Precision engineering design solution: Parker-Hannifin (PH) (1918)

Parker-Hannifin Corporation (NYSE: PH) was founded in 1918 and is headquartered in Cleveland, Ohio, USA. It has 54,754 full-time employees. It is a world-class industrial enterprise that manufactures fluid transmission components and The system is used in construction machinery, industry and aerospace fields.

Parker Hannifin Corporation PH Logo

Parker-Hannifin (PH):

Parker Hannifin (Parker Hannifin) is a diversified manufacturer of motion and control technology and systems, providing precision engineering design solutions in a wide range of mobile, industrial and aerospace markets. Since its establishment in 1918, Parker Hannifin Company has developed into the world’s largest company in the field of motion and control with the most complete product range. The company manufactures fluid transmission components and systems to control the transmission and flow of various machinery and other equipment. And stress.

Parker Hannifin provides more than 1,400 product lines for more than 1,000 projects in the construction machinery, industrial and aerospace fields. It is the only company that can provide customers with hydraulic, pneumatic, sealing, mechatronics and computer drive control solutions Manufacturer. In this field, Parker Hannifin has the world’s largest sales network, with more than 7,500 distributors all over the world providing services to more than 400,000 users.

Parker Hannifin is a supplier of Boeing (787 Dreamliner) and Lockheed Martin (F35 Thunder fighter).

Parker Hannifin’s business is divided into three divisions: Industrial, Aerospace, and Climate & Industrial Controls.

  1. Industrial Department: Contains several different business units, producing components for motion control and fluid power systems, and supplying various types of manufacturers and users, including manufacturing, packaging, processing, transportation, agriculture, construction, and military vehicles and equipment.
  2. Aerospace department: produces hydraulic, fuel, pneumatic and electromechanical systems and components. In addition to almost all kinds of domestic commercial, military and general aviation aircraft, it also plays a very important role in naval ships and land weapon systems. And provide services all over the world to customers of original equipment and maintenance, repair and overall overhaul.
  3. Climate & Industrial Controls Department: Production of motion control systems and components for use in refrigeration and air conditioning and transportation industries.

Parker-Hannifin (PH) history:

  • 1918: Arthur L. Parke founded Parker Appliance Company;
  • 1919: Parker Appliance Company went bankrupt, and Arthur L. Parke was a postdoctoral fellow in engineering, vowing to make a comeback;
  • 1924: Arthur L. Parker restarts Parker Appliance Company;
  • 1935: During the Great Depression, Arthur Parker purchased a 500,000-square-foot factory from Hupp Motor Car Company as a company factory with 38 employees;
  • 1939: Parker Appliance sales exceeded $3 million;
  • 1943: Parker employs 5,000 people and produces defense products;
  • 1945: The founder of the company, Arthur L. Parker, passed away. After World War II, the defense contract was terminated. The company faced bankruptcy and liquidation, but Arthur’s wife Helen Parker refused to give up and hired new management in an attempt to rejuvenate his glory. Arthur’s son Patrick S. Parker takes over the company;
  • 1953: Parker completed the first acquisition-Synthetic Rubber Products Company in Los Angeles, California;
  • 1957: Hannifin Corporation was acquired and Parker Hannifin Corporation was established;
  • 1960: Parker Hannifin International Division was established;
  • 1964: Parker Hannifin listed on the New York Stock Exchange, stock code: PH;
  • 1966: Parker Hannifin became one of the Fortune 500 companies;
  • 1969: Parker Hannifin has entered 10 countries in Europe and Latin America, and the founder’s son Pat Parker was elected as the company’s chairman;
  • 1976: Parker Hannifin adopts a new logo;
  • 1977: Parker Hannifin sales reached 500 million US dollars;
  • 1978: Parker Hannifin strengthened its position in the aviation industry through the acquisition of Bertea Corporation;
  • 1981: Parker Hannifin sales reached 1.1 billion US dollars;
  • 1983: Parker Hannifin established a joint venture in China;
  • 1988: Parker Hannifin celebrated its 70th anniversary. In the same year, it acquired 7 companies with sales exceeding US$2 billion;
  • 1994: Parker Hannifin opened its first retail store-ParkerStore;
  • 1997: Before and after, Parker Hannifin completed the acquisition of a number of fluid power companies, including: Commercial Hydraulics, VOAC Hydraulics, etc.;
  • 2000: Parker Hannifin sales reached 5.4 billion US dollars. In the same year, it merged with Commercial Intertech and completed 4 other acquisitions;
  • 2001: Parker Hannifin released Win Strategy;
  • 2005: Patrick S. Parker passed away. In the same year, sales reached 8.2 billion US dollars, acquired 6 companies, and won the hydraulic subsystem contract of the Boeing 787 Dreamliner;
  • 2006: As of the end of the year, Parker Hannifin had conducted 210 acquisitions in history;
  • 2007: Parker Hannifin opened the 1000th ParkerStore, which took only 13 years;
  • 2011: Parker Hannifin sales reached 12.3 billion US dollars;
  • On December 1, 2016, Parker-Hannifin (Parker-Hannifin) announced the acquisition of the world’s largest filter manufacturer- Clark Group (Clarcor) for $4.3 billion . The transaction was completed on February 28, 2017.
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