Parker Hannifin
Engineering Your Success
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| 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 |
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Number of locations
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341 Manufacturing Sites |
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Area served
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Worldwide |
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Key people
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Thomas L. Williams (CEO), Lee C. Banks (President & COO), Donald E. Washkewicz (Chairman) |
| Revenue |
 US$13.2 billion (2014)
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 US$1.33 billion (2014)
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US$1.04 billion (2014)
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| Total assets |
US$13.27 billion (2014)
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| Total equity |
US$6.66 billion (2014)
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Number of employees
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57,447 |
| 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. Parker Hannifin 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.
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 incidents, including that of United Airlines Flight 585 and USAir Flight 427.
In 2004, a Los Angeles jury ordered Parker Hannifin to pay US$43 million to the plaintiff families of the 1997 SilkAir Flight 185 crash in Indonesia. Parker Hannifin subsequently appealed the verdict, which resulted in an out-of-court settlement for an undisclosed amount. The National Transportation Safety Committee could not determine the cause of the crash due to the near total lack of physical evidence and complete destruction, this in contrast to the US National Transportation Safety Board, however, which disagreed and determined that the crash was caused, possibly intentionally, by the pilot.
The FAA ordered an upgrade of all Boeing 737 rudder control systems by November 12, 2002. Parker 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.
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Wikipedia