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Parker Hannifin Corporation: Parker Announces Acquisition of President Engineering Group to Strengthen LNG, Industrial Gas and Mining Capabilities

CLEVELAND, September 28, 2015
- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and
control technologies, today announced a previously completed transaction to
acquire President Engineering Group Limited (PEGL) based in Sheffield, U.K.
PEGL specializes in the design and manufacture of technically advanced,
precision engineered cryogenic valves for liquefied natural gas (LNG) and
Industrial Gas applications and specialized equipment for mining safety
applications. Terms of the transaction were not disclosed.

PEGL had revenues of 19 million pounds (approximately $29 million) in its
latest financial year and 120 employees. Their products, including the
Bestobell, Conflow and Bretby Gammatech brands, assist in the acquisition,
transport and storage of LNG and help monitor and suppress dust and ash
during mining operations. PEGL is a recent recipient of Britain's
prestigious Queen's Award for International Trade and British Chamber of
Commerce Manufacturer of the Year title.

The acquired company has become a part of Parker's Instrumentation Group and
approximately 40 percent of revenues will be reported in the North American
Diversified Industrial business and the remaining 60 percent of revenues will
be reported in the International Diversified Industrial business.
"The addition of PEGL provides product and manufacturing technologies and
expanded systems capabilities along with solid brand names," said John Greco,
Vice President and President - Instrumentation Group. "This acquisition will
strengthen Parker's position in the LNG, Industrial Gas and Mining markets.
We are excited about the opportunities to combine our organizations and
extend more solutions to our customers."

About Parker Hannifin Corporation

With annual sales of approximately $13 billion in fiscal year 2015, 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 mobile, industrial and aerospace markets. The company
employs approximately 55,000 people in 50 countries around the world. Parker
has increased its annual dividends paid to shareholders for 59 consecutive
fiscal years, among the top five longest-running dividend-increase records in
the S&P 500 index. For more information, visit the company's website
atwww.parker.com, or its investor information website atwww.phstock.com.


Media -
Aidan Gormley, Director, Global Communications and Branding

Financial Analysts -
Robin J. Davenport, Vice President, Corporate Finance



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Parker Hannifin Corporation via Globenewswire


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