Contracts expected to generate approximately $1.2 billion in revenues
CLEVELAND, Sept. 4 /PRNewswire-FirstCall/ -- Parker Hannifin, the
global leader in motion and control technologies, today announced that its
Parker Aerospace segment has been chosen by Bombardier Aerospace to design
and produce the fully integrated hydraulic and fuel systems for its new
CSeries family of aircraft. The company estimates that the contracts will
generate approximately $1.2 billion in revenues over the life of the
program.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
"We are proud to support Bombardier Aerospace and this exciting new
program," said Bob Barker, president of Parker Aerospace and executive vice
president and operating officer of Parker Hannifin. "We have been providing
Bombardier with system solutions for over a decade, supporting the Global
Express, Q400, and CRJ platforms. We look forward to working with this
important customer on the new CSeries aircraft. What's more, these
significant contract wins will contribute to Parker's continued growth."
Fuel system
Parker Aerospace's fluid management and control systems organization in
Irvine, California, will design the fuel system for the CSeries aircraft.
Product design and manufacture will be completed by Parker's Air & Fuel
Division, Electronic Systems, and Nichols Airborne Divisions.
The fluid mechanical equipment includes the control valves for fuel and
emergency shutoff, isolation, and venting of air in and out of the aircraft
fuel tanks. This equipment will provide multiple functions for the
aircraft's fuel system, including refueling and defueling, transfer, engine
feed, and fuel tank venting. During aircraft operation, the pumps transfer
fuel from tank to tank and supply the fuel to the engines.
The fuel measurement system gauges the fuel quantity in the tanks
located in the aircraft's wings and fuselage, as well as the fuel
management system, which monitors the distribution of fuel while commanding
pumps and valves in the fuel system to provide refuel and fuel transfer.
"Parker is very excited to be a part of the new CSeries airliner and
looks forward to providing Bombardier Aerospace with the fuel systems for
this family of next-generation aircraft," said Greg Crowe, Air & Fuel
Division Vice President and General Manager. "This is a significant award
for Parker and is aligned with our strategy to provide complete systems for
our customers."
Hydraulic system
The hydraulic system will be designed and manufactured by Parker's
Hydraulic Systems Division in Kalamazoo, Michigan. The hydraulic system
provides the functions necessary to power and control the aircraft's flight
control system, landing gear and steering system, thrust-reverser and
variable-area nozzle system. This is the Parker Hydraulic Systems
Division's fifth major hydraulic system platform to be jointly developed
with Bombardier Aerospace.
Major system hardware elements include engine-driven pumps, VFAC-motor-
driven pumps, a power transfer unit, reservoirs, accumulators, and
filtration. Additionally, Parker will provide ancillary equipment,
including heat exchangers, various sensors, valves, and quick-disconnect
couplings.
Parker Aerospace Hydraulic Systems Division Vice President and General
Manager Greg Bierlein commented, "We are honored to have been selected to
provide our fifth complete hydraulic system for Bombardier and are excited
to be a part of the CSeries and this growing mid-range aircraft market."
As the systems provider, Parker is responsible for architecture
development, system sizing and analysis, equipment development and
qualification, and integration testing that supports overall aircraft
certification.
Fly-by-wire flight control system
As previously announced under separate contracts, Parker has been
selected as the exclusive supplier of fly-by-wire flight control systems
for a period of ten years for all new Bombardier widebody aircraft programs
requiring this technology. 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 separate aircraft programs,
starting with the CSeries aircraft. Parker estimates that this has the
potential to generate revenues of US $3.5 billion over the life of the
programs.
CSeries family of aircraft
The five-seat-abreast CSeries aircraft program - launched on July 13,
2008 - is 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 in 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, inerting, 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, motor operated valves and fuel equipment, lubrication oil
reservoirs, lubrication and scavenge pumps, fuel measurement and management
systems, cockpit instrumentation, flight inspection systems, lightning-safe
products, pneumatic subsystems and components, fluid metering delivery and
atomization devices, wheels, brakes, and fluid conveyance products such as
hoses, tubes, disconnects, and fittings.
With annual sales exceeding $12 billion, Parker Hannifin is the world's
leading diversified manufacturer of mobile, industrial, and aerospace
markets. The company employs 62,000 people in 48 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 .
Note: Bombardier and CSeries are either registered or unregistered
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; uncertainties surrounding
the ultimate resolution of outstanding litigation; 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.parker.com
http://www.phstock.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, Parker Aerospace, +1-949-851-3515,
adittmeier@parker.com, Financial Analysts: Pamela Huggins, Vice
President - Treasurer, Parker Hannifin Corporation, +1-
216-896-2240, phuggins@parker.com
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