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LONDON, UK / ACCESSWIRE / April 26, 2018 / Active-Investors.com has just released a free research report on Parker-Hannifin Corp. (NYSE: PH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PH as the Company's latest news hit the wire. On April 24, 2018, the Company announced that Parker Aerospace's joint venture (JV) Company, Aerospace Component Engineering Services Pte Ltd ("ACE Services"), has received the Japan Civil Aviation Bureau (JCAB) certification. Parker Aerospace is a business vertical of Parker-Hannifin, while ACE Services is a hydraulics repair facility in Singapore and a JV formed between Parker Aerospace and SIA Engineering Co., Ltd. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Quotes from Management
Commenting on getting the JCAB certification, Brian Hunter, General Manager of ACE Services, said:
"Achieving the JCAB certification is a significant milestone for ACE Services. It allows us to offer our Japanese customers a value-added service that will reduce total lead time and cost. The certification also allows us to extend our reach into the Asia/Pacific market, and is yet another marker of the high quality that ACE Services offers its customers."
Austin Major, Vice President of Parker Aerospace Customer Support Operations, added:
"By achieving JCAB certification, ACE Services is now even more customer-centric, a move that reflects our global-reach, local-focus strategy for maintenance, repair, and overhaul."
Benefits of the JCAB Certification
ACE Services has already obtained certifications from major aviation authorities, including Civil Aviation Authority of Singapore (CAAS), Federal Aviation Administration (FAA), European Aviation Safety Agency (EASA), Civil Aviation Authority of China (CAAC), and Civil Aviation authorities of Malaysia, Thailand, Indonesia, and Vietnam. By getting the JCAB Certification, ACE Services can now repair and release flight critical equipment with full JCAB approval to Japanese operators and aggregators. The Certification will help these operators to reduce lead time, which will result in added operational efficiencies for them.
The certification is also in-line with Parker Aerospace's vision of expanding and strengthening its presence and customer base in the Asia/Pacific region.
About Aerospace Component Engineering Services Pte Ltd
ACE Services is a leading hydro-mechanical maintenance, repair, and overhaul (MRO) solutions provider in the Asia/Pacific region. ACE Services was formed in 2005 and is located at the doorstep of Singapore Changi International Airport. ACE Services is the result of a JV between Parker Aerospace and SIA Engineering, the latter being a part of SIAEC Group. Parker Aerospace is a global provider of flight control actuation, hydraulic, fuel, inerting, fluid conveyance, pneumatic, and lubrication systems and components used on virtually every commercial and military aerospace platform. The SIAEC Group provides extensive MRO services to 80+ international airlines worldwide.
ACE Services is Parker Aerospace's Centre of Excellence in the Asia/Pacific region and is also a Boeing-approved repair center. ACE Services specializes in the repair and overhaul of flight control actuators, power control units, thrust reverser, landing gear actuators, valves, and pumps for the Boeing 737, 747, 757, 777, 787, and Airbus A319, A320, A330, and A380. The Company has a highly qualified engineering and operations team with extensive knowledge in the repair and overhaul of hydraulic components. In addition to Parker Aerospace products, the Company has the capability to repair hydro-mechanical components from other original equipment manufacturers (OEMs). ACE Services currently supports more than 70 international airlines and other MRO customers in the region.
About Parker-Hannifin Corp.
Cleveland, Ohio-based Parker-Hannifin is a Fortune 250 global leader in motion and control technologies. The Company's business is divided into six major Groups - Aerospace Group, Engineered Materials Group, Filtration Group, Fluid Connectors Group, Instrumentation Group, and Motion Systems Group. The Company's global presence spans 55 countries with 100 divisions and 336 manufacturing locations. The Company completed 100 years of operations in March 2017.
Stock Performance Snapshot
April 25, 2018 - At Wednesday's closing bell, Parker-Hannifin's stock climbed 3.01%, ending the trading session at $168.27.
Volume traded for the day: 1.82 million shares, which was above the 3-month average volume of 1.22 million shares.
Stock performance in the past twelve-month period - up 1.85%.
After yesterday's close, Parker-Hannifin's market cap was at $22.65 billion.
Price to Earnings (P/E) ratio was at 19.71.
The stock has a dividend yield of 1.57%.
The stock is part of the Industrial Goods sector, categorized under the Industrial Equipment & Components industry. This sector was flat at the end of the session.
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