Parker Aerospace Buys XAR Product Line.IRVINE, Calif.--(BUSINESS WIRE)--July 15, 1997--Parker Aerospace announced that it purchased, for cash, the aircraft components product line of XAR XAR eXtended Attribute Record (CD Format) Industries, a company based in the City of Industry, Calif. The purchase price was not disclosed. The new product line will add approximately $3 million to Parker's Air & Fuel Division annual sales. The product line includes fuel components for the Cessna Citation The Cessna Citation is a marketing name used by Cessna for its lines of business jets. Rather than one particular model of aircraft, the name applies to several "families" of turbofan-powered aircraft which have been produced over the years. business jets as well as fuel transfer valves, level control valves Control valves are valves used within industrial plants and elsewhere to control operating conditions such as temperature, pressure, flow, and liquid level by fully or partially opening or closing in response to signals received from controllers that compare a "setpoint" to a , solenoid valves, and aerial refueling Aerial refueling, also called Air refueling or in-flight refueling (IFR) or air-to-air refueling (AAR) or (in the UK) tanking. Note that AAR also stands for "After Action Review" (de-briefing) and in aviation, IFR also stands for equipment for the Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. F-16, F-117 and F-22 aircraft as well as other aircraft manufactured by other prime contractors. The purchase includes the XAR product line's contracts, drawings, inventory, rights to manufacture and associated assembly and test equipment. "XAR Industries is a recognized and respected supplier of high-quality aircraft fuel products," noted John Meston, general manager for the Air & Fuel Division. "We are pleased to add this equipment to the Parker Aerospace product line. XAR aircraft components will complement our current product line, broadening the Parker Aerospace business base." 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, its product line includes flight controls, thrust-reverser actuation systems, servovalves, utility hydraulics, engine-driven pumps, fuel measurement and management systems, air turbine starters and valves, heat exchangers and fuel injection nozzles. It is an operating segment of Parker Hannifin Corp. (NYSE NYSE See: New York Stock Exchange :PH), a leading global producer of motion-control components and systems for a wide range of aerospace, industrial and automotive markets. CONTACT: Parker Aerospace, Irvine Cheryl Morosco, communication services 714/851-3636 |
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