Parker Hannifin Corporation : Market Analysis 2010
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Parker Hannifin Corporation (PH)
Parker Hannifin Corporation (PH) is a company that manufactures different electromechanical controls, fluid power systems, and their related components; which together are considered motion control technologies. Currently PH is one of the biggest companies in the world in motion control technology and employs around 55,000 people. As of this year, PH is listed at number 230 in the Fortune 500.
Parker Hannifin is headquartered in Cleveland, Ohio and was started in 1918 by Arthur Parker. PH originally went by the name of Parker Appliance Company and is more commonly referred to by the name of Parker, of Cleveland, Ohio. Shortly after it was founded in 1918, a truck accident occurred and destroyed the company’s entire inventory causing it to go bankrupt. Due to this unfortunate event, Arthur Parker retreated back to his previous job at an engineering plant, but vowed to rebirth the company again. In 1924 he was successful in restarting the company and the pneumatic/hydraulic components division did well in serving customers involved in aviation and the automotive industry.
Some milestones that Parker Hannifin has been through include the founder, Arthur Parker buying a 450,000 auto plant in Cleveland in the mist of the Great Depression due to his great optimism that his company was going to continue its success in 1935. Eight years later in 1943, Parker had reached 5,000 employees in the Cleveland area; which were all in defense production. Shortly after, in 1945, Arthur Parker passed away leaving his company hurting to the point of liquidation. However, his wife Helen refused to give up and decided to hire new management that would eventually build the company back to its prime. In the 1960’s, PH reached a new level of success when shares of the company were traded on the NYSE and the company reached a spot on the Fortune 500 for the first time ever. Two decades later, Parker Hannifin extended its company by involving itself in a...
Parker Hannifin Corporation (PH) is a company that manufactures different electromechanical controls, fluid power systems, and their related components; which together are considered motion control technologies. Currently PH is one of the biggest companies in the world in motion control technology and employs around 55,000 people. As of this year, PH is listed at number 230 in the Fortune 500.
Parker Hannifin is headquartered in Cleveland, Ohio and was started in 1918 by Arthur Parker. PH originally went by the name of Parker Appliance Company and is more commonly referred to by the name of Parker, of Cleveland, Ohio. Shortly after it was founded in 1918, a truck accident occurred and destroyed the company’s entire inventory causing it to go bankrupt. Due to this unfortunate event, Arthur Parker retreated back to his previous job at an engineering plant, but vowed to rebirth the company again. In 1924 he was successful in restarting the company and the pneumatic/hydraulic components division did well in serving customers involved in aviation and the automotive industry.
Some milestones that Parker Hannifin has been through include the founder, Arthur Parker buying a 450,000 auto plant in Cleveland in the mist of the Great Depression due to his great optimism that his company was going to continue its success in 1935. Eight years later in 1943, Parker had reached 5,000 employees in the Cleveland area; which were all in defense production. Shortly after, in 1945, Arthur Parker passed away leaving his company hurting to the point of liquidation. However, his wife Helen refused to give up and decided to hire new management that would eventually build the company back to its prime. In the 1960’s, PH reached a new level of success when shares of the company were traded on the NYSE and the company reached a spot on the Fortune 500 for the first time ever. Two decades later, Parker Hannifin extended its company by involving itself in a...