Parker Hannifin Corporation News

Parker Aerospace to Develop Generic Fly-By-Wire System for All New Bombardier Widebody Aircraft Programs

CLEVELAND, July 18 PRNewswire-FirstCall — Bombardier Aerospace and Parker Aerospace announced today that Parker has been selected as the exclusive supplier for a period of ten years of fly-by-wire flight control systems for all new Bombardier widebody aircraft programs requiring this technology.

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Parker Aerospace will develop a complete, state of the art generic fly-by-wire system from stick to surface, that will then be customized and manufactured for each aircraft program, starting with the CSeries.

Parker estimates that this has the potential to generate revenues of US $3.5 billion over the life of the programs.

"This approach to the design, development and manufacture of a system that can be applied to a number of aircraft programs will provide us with increased reliability, reduced development cycle, and an overall improved value proposition," said Francois Caza, Vice President and Chief Engineer, Bombardier Aerospace. "Through this arrangement we will be able to simplify and improve our service and support structure."

"We are extremely proud to be a part of this exciting opportunity, and look forward to providing Bombardier, a long-time Parker customer, with enhanced fly-by-wire flight control systems," said Parker Aerospace Control Systems Division Vice President and General Manager Carl Moffitt.

Fly-by-wire system

Fly-by-wire flight controls replace the conventional hydro-mechanical flight control system that uses a series of pulleys and/or rods that directly control flight surfaces and provides easier installation and increased functionality. With fly-by-wire flight control, pilot inputs are interpreted by sophisticated on-board computers to ensure that the signals being sent to the control surfaces optimize the aircraft's performance.

CSeries family of aircraft

The five-abreast CSeries aircraft — launched on July 13, 2008 — are specifically designed to meet the growing needs of the 100- to 149-seat commercial aircraft market category, estimated by Bombardier Aerospace at 6,300 aircraft representing more than $250 billion US revenue over the next 20 years. Bombardier expects to be able to capture up to half of this market.

About Parker Hannifin Corporation

Parker Aerospace is an operating segment of Parker Hannifin Corporation. Parker Aerospace designs, manufactures, and services hydraulic, fuel, and pneumatic components, systems, and related electronic controls for aerospace and other high-technology markets. Based in Irvine, California, its product lines include flight control actuation systems and components, thrust-reverser actuation systems, electrohydraulic servovalves, utility hydraulic systems and components, DC motor pumps, fuel pumps, lubrication and scavenge pumps, fuel measurement and management systems, cockpit instrumentation, flight inspection systems, pneumatic subsystems and components, fluid metering delivery and atomization devices, wheels and brakes, and fluid conveyance products such as hoses, tubes, disconnects, and fittings.

With annual sales exceeding $10 billion, 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 commercial, mobile, industrial, and aerospace markets. The company employs more than 57,000 people in 43 countries around the world. Parker has increased its annual dividends paid to shareholders for 52 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.

About Bombardier

A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2008, were $17.5 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at http://www.bombardier.com.

Bombardier and CSeries are trademarks of Bombardier Inc. or its subsidiaries.

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 both its 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, 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 or suppliers, including delays or cancellations in shipments or significant changes in financial condition; uncertainties surrounding timing, successful completion or integration of acquisitions; threats associated with and efforts to combat terrorism; 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, 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

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