Parker Signs Distribution Agreement with Aviation Power & Marine.
Under the agreement, AP&M will act as a North American distributor for Parker Aerospace's turbine engine products used on General Electric LM-series aeroderivative engines as well as solar and TP&M FT4 engine product applications.
AP&M has 15 years of experience in the aerospace engine market and has exhibited continued growth throughout this period. The company is staffed with experienced sales professionals, as well as an outside field service organization, to better service the needs of the Parker Aerospace and AP&M combined customer base.
"We are very pleased to have established this relationship with such a capable and experienced distributor as AP&M," stated Customer Support General Manager Scott Ledbetter. "We expect the relationship to be fruitful for both companies as we continue to increase customer service and satisfaction to our combined customer base."
President of Aviation Power and Marine Barry Mazer said: "It is a privilege to be associated with a world-class, global company such as Parker Hannifin. Equally important to us is the opportunity to improve service to our mutual customers going forward."
Parker Aerospace and Parker Hannifin Corp.
Parker Aerospace is an operating segment of Parker Hannifin Corp. 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 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, and wheels and brakes.
With annual sales approaching $8 billion, Parker Hannifin (NYSE:PH) 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 48,000 people in 46 countries around the world. Parker has increased its annual dividends paid to shareholders for 49 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 www.parker.com, or its investor information site at www.phstock.com.
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|Date:||May 5, 2005|
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