Parker Italy Holding Co history

In 1924 he tried again, offering new flared-tube fitting components to expand his one-product line.

Now indispensable to two transport industries, the company achieved $2 million in sales in 1934.

Other businesses were not so lucky: although almost four million cars rolled off assembly lines in 1935, many smaller factories had to close their doors.

During the final days of 1938, Art Parker saw his business become a public company.

In 1957, a year that showed sales totaling $28.5 million, the Parker Appliance Company acquired the Hannifin Corporation of Des Plaines, Illinois.

In 1960 Parker-Hannifin organized an international division to market its products worldwide.

The wisdom of this practice was reflected in 1967 sales, which totaled more than $152 million.

A 1971 newcomer was the Ideal Corporation, which manufactured hose clamps and turn indicators.

Following shortly afterwards were the Roberk Company, which made windshield wipers and rear view mirrors, and in 1978, EIS Automotive Corporation, manufacturers of hydraulic replacement parts for drum- and disc-brake systems.

In 1984, Paul Schloemer succeeded Patrick Parker as CEO and president.

In November 1989 Parker-Hannifin sold its three automotive aftermarket components divisions to an investor group headed by the president of the Parker automotive group.

The 1996 purchase of Swedish-based VOAC Hydraulics fortified the company's product line with hydraulic systems for mobile heavy equipment.

Driven by the hard work and dedication of its team members around the world, in fiscal year 2017 Parker capitalized on strategic growth opportunities and benefited from improved market conditions to deliver strong financial results, positioning the company for record performance in the coming year.