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LONDON, UK / ACCESSWIRE / July 12, 2018 / If you want access to our free research report on Parker-Hannifin Corp. (NYSE: PH), 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 July 10, 2018, the Company announced that its Aerospace's Aircraft Wheel & Brake Division (Cleveland Wheels & Brakes) has signed a 10-year, long-term agreement (LTA) with Daher Aerospace, to supply main wheels, main brakes, nose wheel, master cylinders, and park brake valve on the TBM 900 series production aircraft. The financial details of the transaction remained undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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As part of the LTA, Parker-Hannifin will provide re-designed main wheels and brakes that will reduce the overall weight of the landing gear.
Parker-Hannifin's Innovative Engineering Efforts will Offer Daher Aerospace an Improved Version of Wheels and Brakes
Commenting on the agreement, Dan Basch, Division Engineering Manager at Parker-Hannifin, stated that Parker Aircraft Wheel & Brake is proud to solidify its long-standing relationship with Daher Aerospace in support of the TBM program. Basch added that the Company is thrilled that its innovative engineering efforts are able to offer Daher Aerospace an improved version of Parker-Hannifin’s wheels and brakes while providing the same safety, reliability, and braking performance TBM operators have enjoyed for the last few decades.
Parker Aerospace's Engineering and Development Resources Provide the Most Advanced Technology at an Affordable Cost
Nicolas Chabbert, Daher Airplane Business Unit's Senior Vice President and Chief Executive Officer (CEO) of Daher Aircraft Inc., mentioned that this long-term agreement is based on Parker Aircraft Wheel & Brake's solution that brings together the best in terms of weight reduction, reliability, and the manufacturer’s commitment to Daher Aerospace's TBM very fast turboprop aircraft family. Chabbert added that Parker Aerospace's engineering and development resources provide the most advanced technology at an affordable cost.
TBM 900 Series Production Aircraft
The TBM 900 airframe design employs several fail-safe structural design techniques, including the use of multiple load paths and a crack-stopper band to maximize subsystem reliability/durability and structural life. The TBM 900 uses more advanced composite materials such as carbon fiber for its new items (winglets, new cowlings, etc.) to maximize structural strength and durability while minimizing aircraft weight and both acquisition and life-cycle support costs.
About Parker-Hannifin Corp.
Founded in 1917 and headquartered in Cleveland, Ohio, Parker-Hannifin is a global leader in flight control actuation, hydraulic, fuel, inerting, fluid conveyance, pneumatic, and lubrication systems and components used on virtually every commercial and military aerospace platform in production today, from commercial transports, helicopters, and business and general aviation, to military fixed-wing planes and unmanned aerial vehicles.
About Parker Aerospace
Parker Aerospace is a global leader in the research, design, integration, manufacture, certification, and lifetime service of flight control, hydraulic, fuel and inerting, fluid conveyance, thermal management, lubrication, and pneumatic systems and components for aerospace and other high-technology markets. The Company supports the world's aircraft manufacturers, providing a century of experience and innovation for commercial and military aircraft.
About Daher Aerospace
Headquartered in Paray-Vieille-Poste, Ile-de-france, Daher Aerospace is an aircraft manufacturer and an industry and service equipment supplier. Daher Aerospace works in the aerospace, defence, nuclear, and automotive industrial sectors in the fields of manufacturing, services, and transport.
Stock Performance Snapshot
July 11, 2018 - At Wednesday’s closing bell, Parker-Hannifin's stock dropped 1.29%, ending the trading session at $157.96.
Volume traded for the day: 986.10 thousand shares.
After yesterday's close, Parker-Hannifin's market cap was at $21.00 billion.
Price to Earnings (P/E) ratio was at 17.50.
The stock has a dividend yield of 1.92%.
The stock is part of the Industrial Goods sector, categorized under the Industrial Equipment & Components industry.
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