Parker Hannifin

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Parker Hannifin Corporation
Public
Traded as NYSEPH
S&P 500 Component
Industry Motion and Control Technologies
Founded 1917, Cleveland, Ohio, USA
Founder Arthur L. Parker
Headquarters Mayfield Heights, Ohio, United States
Number of locations
341 Manufacturing Sites
Area served
Worldwide
Key people
Thomas L. Williams (CEO),
Lee C. Banks (President & COO),
Donald E. Washkewicz (Chairman)
Revenue Increase US$13.2 billion (2014)[1]
Decrease US$1.33 billion (2014)[1]
Increase US$1.04 billion (2014)[1]
Total assets Increase US$13.27 billion (2014)[1]
Total equity Increase US$6.66 billion (2014)[1]
Number of employees
57,447
Website www.parker.com

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).[2][3] 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.[4]

Boeing 737 incidents[edit]

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.[5][6]

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,[7] 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.[8][9]

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.[10]

F-35[edit]

On 18 January 2013, the F-35B variant of the Lockheed Martin F-35 Lightning II was grounded after the failure of a fueldraulic line in the aircraft's propulsion system that controls the exhaust vectoring system. This was in response to an incident two days earlier on 16 January where the propulsion system experienced a fueldraulic failure prior to a conventional takeoff. The precautionary flight suspension is to preserve safety while providing time to understand the origin of the failure of the propulsion fueldraulic line.[11] The failure was found to be a manufacturing defect by Parker Hannifin's Stratoflex division.[12][13]

References[edit]

  1. ^ a b c d e "Parker Hannifin 2014 Annual Report". Parker Hannifin. 
  2. ^ "CERTIFICATE OF PROPERTY INSURANCE." Parker Hannifin. March 28, 2012. Retrieved on December 25, 2012. "Parker Hannifin Corporation 6035 Parkland Blvd Cleveland OH 44124-4141 USA"
  3. ^ "2010 CENSUS - CENSUS BLOCK MAP: Mayfield Heights city, OH." (Archived 2012-12-25 at WebCite) U.S. Census Bureau. Retrieved on December 25, 2012.
  4. ^ "Fortune 500". Fortune. Retrieved 2016-03-22. 
  5. ^ Robert J. Boser. "What is the status of the solution to the B-737 rudder design defect?". airlinesafety.com. Retrieved 2008-11-18. 
  6. ^ "Pittsburgh disaster adds to 737 doubts". Seattle Times. 1996. Retrieved 2008-11-17. 
  7. ^ Valerie Chew (September 30, 2009). "Crash of SilkAir Flight MI 185". National Library Board. Retrieved May 26, 2012. 
  8. ^ SilkAir 185 - Pilot Suicide? (Documentary). National Geographic. 2007. 
  9. ^ "Remembering the Musi – SilkAir Flight MI 185 Crash Victim Identification" (PDF). Annals Academy of Medicine. 36 (10): 866. 2007. 
  10. ^ "Airworthiness Directives; Boeing Model 737 Series Airplanes" (PDF). FAA. Retrieved 2008-11-17. 
  11. ^ F-35B grounded after fueldraulic line failure - Flightglobal.com, January 18, 2013
  12. ^ "Engineers discover culprit behind F-35B fueldraulic line failure."
  13. ^ "Stratoflex - Parker."

External links[edit]