Parker Aerospace Completes Acquisition of Mechatronic Systems LLC Asse

    Aerospace Writers/Business Editors

    IRVINE, Calif.--(BUSINESS WIRE)--May 4, 2005--Parker Aerospace has acquired the assets of engineering research and development company Mechatronic Systems LLC for an undisclosed amount.
    Mechatronic Systems LLC, which has four employees and is located in Huntington Beach, Calif., specializes in the development of high-temperature electronic control and power drive and high-temperature electric machines. The technologies will be added to Parker's Control Systems Division, with headquarters in Irvine, and will be integrated throughout the broad Parker Aerospace product line.
    Group Vice President of Technology & Innovation Mark Czaja commented: "Mechatronic Systems is bringing intellectual property to the Parker Aerospace family. We are excited to have them join us and look forward to expanding our business capabilities to provide our customers with an even broader array of integrated systems."

    Parker Aerospace and Parker Hannifin Corp.

    Parker Aerospace is an operating segment of Parker Hannifin Corp. (NYSE:PH) Parker Aerospace designs, manufactures, and services hydraulic, fuel, and pneumatic components, systems, and related electronic controls for aerospace and other high-technology markets. Based in Irvine, 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, lubrication and scavenge pumps, fuel measurement and management systems, cockpit instrumentation, flight inspection systems, pneumatic subsystems and components, fluid metering delivery and atomization devices, and wheels and brakes.
    With annual sales approaching $8 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 48,000 people in 46 countries around the world. Parker has increased its annual dividends paid to shareholders for 49 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 www.parker.com, or its investor information site at www.phstock.com.

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CONTACT: Parker Aerospace Alison Dittmeier, 949-851-3515 adittmeier@parker.com

KEYWORD: CALIFORNIA INDUSTRY KEYWORD: AEROSPACE/DEFENSE MANUFACTURING MERGERS/ACQ SOURCE: Parker Aerospace

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