Parker-Hannifin
Engineering Your Success
|
|
| Public | |
| Traded as | : PH S&P 500 Component |
| Industry | Motion and control technologies |
| Founded | 1917, Cleveland, Ohio, USA |
| Founder | Arthur L. Parker |
| Headquarters | Mayfield Heights, Ohio, United States |
|
Area served
|
Worldwide |
|
Key people
|
Thomas L. Williams (CEO), Lee C. Banks (President & COO), Donald E. Washkewicz (Chairman) |
| Revenue |
 US$13.2 billion (2014)
|
 US$1.33 billion (2014)
|
|
|
US$1.04 billion (2014)
|
|
| Total assets |
US$13.27 billion (2014)
|
| Total equity |
US$6.66 billion (2014)
|
| Website | www |
Parker Hannifin Corporation, originally Parker Appliance Company, usually referred to as just Parker, is an American corporation specializing in motion and control technologies. Its corporate headquarters are in Mayfield Heights, Ohio, in Greater Cleveland (with a Cleveland mailing address). The company was founded in 1917 and has been publicly traded on the NYSE 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, process control, and sealing and shielding. Parker employs about 58,000 people globally.
In 2016, the company was ranked 230 in the Fortune 500.
Arthur L. Parker founded the firm as the Parker Appliance Company in Ohio around 1917 or 1918. In its early years, it built pneumatic 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.
By 1927, the firm had expanded into airplanes. For his flight across the Atlantic Ocean, Charles Lindbergh requested Parker parts be used in the construction of his aircraft the Spirit of St. Louis. The firm contributed the system that linked the aircraft's 16 fuel tanks.
During World War II, Parker experienced a boom in business as the U.S. Air Force's primary supplier of valves and fluid connectors. By 1943, the firm employed 5,000 Cleveland, 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.
...
Wikipedia