Parker becomes Official Supplier of ORACLE TEAM USA for the 2017 America's Cup

CLEVELAND, Dec. 1, 2014 /PRNewswire/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it will work with ORACLE TEAM USA, the defending champion of the America's Cup, to design and implement hydraulic control systems on its America's Cup racing yachts.

As Official Hydraulic Systems Hardware Supplier to ORACLE TEAM USA, Parker will customize proven aerospace and industrial technologies to a marine environment to help power the team's pursuit of the 35th America's Cup.

"We are excited to apply our expertise in flight control and motion control systems to help ORACLE TEAM USA design these advanced yachts," said Craig Maxwell, Chief Technology Officer for Parker Hannifin Corporation.

"Similar to systems we produce for advanced commercial aircraft, the racing yachts in the America's Cup literally take flight when they lift out of the water on foils. To enable this technical marvel, Parker will work with the team by leveraging our broad portfolio of technologies to provide precise control of the lifting surfaces and the wing (sail) required to produce optimum performance."

The next America's Cup will be in 2017 and raced in the AC62 class - a foiling catamaran powered by a highly-efficient wingsail. The boats are light, extremely fast, and designed and built at the cutting-edge of technology. The AC62 is expected to reach maximum speeds near 50 miles per hour, at up to three times the windspeed.

Parker will integrate its controls, hydraulics, and actuators into a key motion and control system that helps the boat achieve stability as it lifts onto its foils and accelerates.

"Our goal is to continue to push the limits of what is believed to be possible on the water," said Jimmy Spithill, skipper and helmsman of ORACLE TEAM USA. "We are excited to have the engineering support from a world leader such as Parker. The design and engineering of the control systems on the boats will be a key differentiator between the teams, and we feel none are better suited for the job than Parker."

"At Parker we take on some of the world's greatest engineering challenges every day in support of our customers," concluded Maxwell. "Our engineers have been assigned to the challenge of helping the team design some of the fastest sail boats ever as they prepare for a repeat success in 2017."

About ORACLE TEAM USA

ORACLE TEAM USA has won the last two editions of the America's Cup, the oldest trophy in international sport. Skipper and helmsman Jimmy Spithill will lead one of the best international teams in sailing as it competes in the America's Cup World Series regattas in 2015 and 2016, while ORACLE TEAM USA sailors, designers and boat-builders are preparing for the next America's Cup races in the summer of 2017.

About Parker Hannifin Corporation

With annual sales exceeding $13 billion in fiscal year 2014, 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 57,500 people in 50 countries around the world. Parker has increased its annual dividends paid to shareholders for 58 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.

Parker Aerospace is a world leader in aircraft flight control systems and technology, including highly advanced fly-by-wire primary and secondary flight control equipment and related electronics.   Parker flight control actuation products are used on aircraft produced by the world's largest aircraft manufacturers.

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