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.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
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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Related links:
http://www.phstock.com
http://www.parker.com http://www.bombardier.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Alison Dittmeier, Media Relations &
Communications Manager, of Parker Aerospace, +1-949-851-3515,
adittmeier@parker.com; or Marc Duchesne of Bombardier Aerospace,
+1-514-855-7989, marc.duchesne@aero.bombardier.com; or Financial
Analysts, Pamela Huggins, Vice President & Treasurer,
+1-216-896-2240, phuggins@parker.com
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