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 Company Announcement 
Parker Hannifin Corporation
Pneumatic Division Europe/Automation Group
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Parker Acquires International Manufacturer of Integrated Electro-Pneumatic Control Systems
CLEVELAND, November 1, 2007 – Parker Hannifin Corporation (NYSE: PH), the world leader in motion and control technologies, today announced that it has acquired Kay Pneumatics Ltd., a manufacturer of pneumatic valves, cylinders and precision electro-pneumatic control systems for transportation, semi-conductor, medical and general industrial markets. Known as KV Automation, the company is headquartered in Milton Keynes, UK, and has operations in the United States, Spain, France, Netherlands, Thailand, China and United Arab Emirates and reported sales of approximately $43 million for fiscal the year ending April 30, 2007. Terms of the deal were not disclosed. The acquisition is expected to be accretive to earnings in its first full year of operations.
KV Automation will operate within Parker’s Automation Group. Sales will be reported in Parker’s Industrial Rest of World and Industrial North America segments. KV will continue to leverage its unique rapid prototyping capability to design and manufacture fully integrated electro-pneumatic and electro-fluidic system solutions for customer specific applications. Some typical applications include bus door actuation, anesthesia and mobile emergency ventilator modules for medical use and pressure regulation systems used in the ultra pure semiconductor production environment.
”We are very excited to welcome the KV team to Parker’s Automation Group,” said Roger Sherrard, Group President – Automation. “Their innovative, systems driven culture of more than forty years complements our own and strengthens our industry expertise in key markets. These extensive capabilities, already well aligned with our global target markets, will allow us to bring even more value to our customers.”
“We have been aware of Parker as the motion and control leader for quite some time,” said Tony Cersell, Managing Director, KV Ltd. “Our internal discussions determined that a candidate to acquire KV must be an industry leader of high reputation, able to leverage our pneumatic technology integration strengths,
embrace our culture and work ethic, and demonstrate a human resources ability to provide career development opportunities to KV employees. We are pleased that Parker meets all of those expectations.”
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 51 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.
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 achieve and maintain anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, and growth and innovation 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; 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
CONTACT: Media, Christopher M. Farage, Vice President, Corp.
Communications, +1-216-896-2750, cfarage@parker.com, or Financial Analysts,
Pamela Huggins, Vice President and Treasurer, +1-216-896-2240,
phuggins@parker.com, both of Parker Hannifin Corporation
Web site: http://www.phstock.com/
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Air Efficient Rodless Cylinders ? (Ref: ULPR003)
Sounds like a contradiction in terms, as pneumatic rodless cylinders have always been notorious for air leakage, but UK manufacturer Ultraline produces a wide range of pneumatic rodless cylinders with such a unique sealing system, that leakage is almost insignificant.
These high performance cylinders were specially designed to provide most of the features demanded by industry, and this includes a flexible porting arrangement to overcome problems caused by a small space envelope.
Accurate and easy “end of stroke” cushioning is achieved by precision adjustment at each end of the cylinder.
Because of the robust and unique sealing arrangement, the cylinders provide slow, smooth running, low friction and, of course, extremely low leak rates compared to competitor products on the market.
Available as standard, compact and wide carriage versions, an excellent selection of carriage options are available to meet varying load bearing needs.
Sensors
The very latest in sensor technology is also available from Ultraline with a range of reed and solid state sensors designed to fit the cylinders from most manufacturers available on the market.
Ultraline sensors are available in reed, PNP and NPN connections and come with LED and 3m flying leads or M8 quick connect cables as standard options.
Highest quality engineering, competitive pricing and speedy delivery make the Ultraline range of rodless cylinders and sensors a natural choice of the discerning machine builder, and new catalogues are now available to assist in choosing the right combinations to meet the need.
New Rodless
Cylinders with Years of Experience Built In (Ref: ULPR001)
A team of Design Engineers with years
of experience in manufacturing & supplying
pneumatic Rodless Cylinders globally,have combined
all of the features and benefits most demanded by industry, into The
New Ultraline Range.
Machine builders and designers will welcome flexible porting
arrangements that assist in overcoming the common problem of small
space envelopes, by allowing up to seven different configurations
of pneumatic connection.
Accurate and easy “end of stroke” cushioning
is achieved by a precision adjustment at each end of the cylinder.
On some sizes, additional shock absorbers are often not needed
as there is an option of extended cushions.
All Ultraline Rodless Cylinders have a unique and very robust
sealing arrangement that provides slow speed smooth running, low
friction and extremely low leak rates when compared to competitor
products on the market.
Another key feature of the cylinders, is the ability to retro-fit
additional side carriages where extra load movement capability
is needed.
The best engineering, competitive pricing
and speedy delivery are the objectives met by the Ultraline team
to ensure that the demands of machine builders and designers
are satisfied wherever, and whenever, they need a rodless cylinder.
Ultraline Snap
Fit Magnetic Sensors – An
easy solution (Ref: ULPR002)
Pneumatic Cylinders which utlise a ‘T’ Slot
to mount a magnetic sensor to detect cylinder piston position,
often have the problem of fitting and removal of the sensor.
This typically applies when a cylinder is installed and the switch
entry and exit points on the cylinder end cap are inaccessible.
Ultraline Ltd have overcome this problem
with the launch of their new patented range of Snap Fit magnetic
sensors. The unique switch retaining system and release mechanism,
means that a switch can be simply laid above the ‘T’ Slot,
pressed in, slid into position and retained by a screw at the
sensing position required.
Removal is equally easy by operating a clip mechanism on the
back of the sensor, thereby facilitating an easy removal of the
sensor from the slot.
Snap Fit is available in reed and solid state types, with solid
state employing GMR (Giant Magneto Resistive) technology.
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