President Engineering Group Ltd - Parker Hannifin

CLEVELAND, Sept. 28, 2015 - Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, announced a previously completed transaction to acquire President Engineering Group Limited (PEGL) based in Sheffield, U.K. PEGL specializes in the design and manufacture of technically advanced, precision engineered cryogenic valves for liquefied natural gas (LNG) and Industrial Gas applications and specialized equipment for mining safety applications. PEGL's products, including the Bestobell, Conflow and Bretby Gammatech brands, assist in the acquisition, transport and storage of LNG and help monitor and suppress dust and ash during mining operations. PEGL is a recent recipient of Britain’s prestigious Queen’s Award for International Trade and British Chamber of Commerce Manufacturer of the Year title. The acquired company has become a part of Parker’s Instrumentation Group and approximately 40 percent of revenues will be reported in the North American Diversified Industrial business and the remaining 60 percent of revenues will be reported in the International Diversified Industrial business. About Parker Hannifin CorporationWith annual sales of approximately $13 billion in fiscal year 2015, 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 mobile, industrial and aerospace markets. The company employs approximately 50,000 people in 50 countries around the world. Parker has increased its annual dividends paid to shareholders for 59 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's website at www.parker.com, or its investor information website at www.phstock.com.Learn about Parker Instrumentation and Process Control Products at :https://www.linkedin.com/company/parker-process-control-technology