Parker Aerospace, COMAC, and AVIC Systems Hold Contract Signing Ceremony for Fuel, Inerting, and Hydraulic Systems on New C919 Aircraft

The system contracts will generate more than US$2.5 billion in revenue over the life of the program for Parker.


About Parker Hannifin. With annual sales exceeding $10 billion in fiscal year 2009, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 52,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 53 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's web site at http://www.parker.com, or its investor information site at http://www.phstock.com.

Parker Hannifin China was established in the 1980s. It was one of the first three joint ventures after China opened to the outside world and attracted foreign direct investment. Parker Hannifin owns over 2,000 product lines in China with a wide range of products covering more than 50 markets. It is committed to providing products technologies in aerospace, climate control, electromechanical, filtration, fluid and gas handling, hydraulics, pneumatics, process control, and seal & shielding. Products and solutions are widely used in diesel engines, wind turbines, the shipbuilding industry, oceanic exploration, the steel industry, heavy mobile equipment, high-speed railways and factory automation. Parker Hannifin has 11 plants based in Shanghai, Wuxi, Qingdao, Tianjin, Shenyang, Dongguan and Shenzhen. Sales sites and regional offices are mainly located in Shanghai, Chengdu and Beijing. Parker Hannifin has more than 3,000 employees in China.

Forward-Looking Statements

Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. All statements regarding future performance, earnings projections, events or developments are forward-looking statements. It is possible that the future performance and earnings projections of the company and individual segments may differ materially from current expectations, depending on economic conditions within its mobile, industrial and aerospace markets, and the company's ability to maintain and achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, actions taken to combat the effects of the current recession, and growth, innovation and global diversification initiatives. A change in economic conditions in individual markets may have a particularly volatile effect on segment results. Among the other factors which may affect future performance are: changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments, disputes regarding contract terms or significant changes in financial condition; uncertainties surrounding timing, successful completion or integration of acquisitions; threats associated with and efforts to combat terrorism; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; competitive market conditions and resulting effects on sales and pricing; increases in raw material costs that cannot be recovered in product pricing; the company's ability to manage costs related to employee retirement and health care benefits and insurance; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them.

SOURCE Parker Hannifin Corporation

We Recommend