Parker Maintains Long-term Focus on Strategic Acquisitions and Growth

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3rd October 2008

Source: Parker Hannifin

Parker Hannifin Corporation today announced that it has acquired three companies whose total sales for their most recently reported fiscal years approaches one half billion dollars. Parker is remaining focused on executing its plans for growth throughout the current economic turbulence.

“We continue to maintain our long-term focus on growth and positioning Parker for sustained financial performance,” said Don Washkewicz, Chairman, Chief Executive Officer and President. “The acquisitions we have announced today bring us new technologies and market opportunities. They also signal an ongoing commitment to our growth strategy, managing our assets conservatively, and making appropriate use of strong cash flows.”

The three businesses that Parker has acquired, Legris, SA; Origa Group; and Hargraves Technology Corporation, reflect the company’s continuing goal of diversifying operations internationally, extending and complementing existing technologies, and taking advantage of opportunities in less cyclical end markets, such as life sciences.

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