Highlights
In addition to its motion controls and other businesses, Parker Hannifin makes pre-engineered factories, warehouses, aircraft hangars, indoor athletic facilities, automobile showrooms, offices, and supermarkets.
Parker Hannifin systems played a key role in the making of the movie Titanic, which involved large, complex models of the ship.
Named to Fortune’s 2005 list of “America’s Most Admired Companies.”
Parker Hannifin (PH), founded in 1918, makes motion control, fluid purification, fluid control, process instrumentation, air conditioning, refrigeration, electromagnetic shielding, and thermal management products; custom-engineered buildings; and, through its Wynn Oil Company subsidiary, specialty chemicals and automobile service equipment. The company’s products are used in a wide variety of processes that require movement or control, including the manufacture and processing of raw materials and durable goods, infrastructure development, and all forms of transport. PH has 254 plants and 8,600 distributors in more than 45 countries. PH has been buying and selling businesses in recent years with an eye toward expanding core competencies and divesting noncore businesses. Recently it acquired hydraulic fluid power system manufacturer Denison International, gaining better footing in the Asian and European markets. In early 2005 the company bought India's Markwel Hose Products, further expanding its operations in the Asian motion and control markets. PH is also focused on businesses of the future. Recognizing a shortage of pharmacists, the company is developing robots for filling prescriptions. PH is also making strides in fuel cell component development.