Parker Releases Supplemental Information on New Global Technology Platforms
Parker Hannifin released supplemental sales information on three global technology platforms within its Diversified Industrial Segment. As previously announced, the company will have two reporting segments beginning in fiscal year 2014, Diversified Industrial and Aerospace Systems. The company will continue to provide supplemental sales and profitability data for North America and International within the Diversified Industrial Segment.
The global technology platforms - Motion Systems, Flow and Process Control, and Filtration and Engineered Materials - are strategically aligned based on complementary technologies. The Motion Systems platform includes the company’s hydraulics, pneumatics and electromechanical product lines produced by the Hydraulics and Automation groups. The Flow and Process Control platform includes instrumentation, connectors and refrigeration offerings from the Fluid Connectors and Instrumentation groups. The Filtration and Engineered Materials platform includes filtration systems, filters, and sealing and shielding products produced by the company’s Filtration and Engineered Materials groups.
“Parker has been transformed significantly through the successful implementation of the Win Strategy,” said Chairman, CEO and President, Don Washkewicz. “We believe providing this additional information will bring more transparency to investors about Parker’s underlying businesses and will broaden awareness of our competitive strengths. The information highlights our global presence, sales channels, end markets, products and applications and showcases the breadth of technologies across our Diversified Industrial Segment that we draw on to meet our customers’ needs.”
Source: Parker Hannifin Corp