Parker Aerospace Filtration history

Following Arthur Parker's death in 1945, a sharp decline in government business brought the firm close to bankruptcy.

In 1951, Parker Appliance reached $12.2 million in sales.

In 1957, the company acquired Hannifin Corporation of Illinois, a leading manufacturer of hydraulic and pneumatic power cylinders, valves and hydraulic presses.

Purolator began operations on December 5, 1960, as Trans Canadian Couriers Ltd.

With a team of 4,400 employees, Parker Hannifin became a publically traded company on December 9, 1964, listing shares on the New York Stock Exchange.

The Bendix Corporation spun off Facet Enterprises, Inc. as an independent company in 1976.

By 1985, Facet was recording net income of $2.5 million on sales of $171 million.

The genesis of a new company named Purolator Products occurred in 1987 when Facet Enterprises purchased the filter manufacturing end of Purolator, Inc for $67 million.

Lured by Facet's market share Houston based Pennzoil Corporation purchased Facet in 1988 for $233 million.

By 1989 the newly named Purolator Products company was recording a net loss of $7 million.

Parker began to reorganize its operations in the early 1990's to focus on its core motion and control markets' aerospace and industrial.

After recording a net loss of about $50 million in 1991, Purolator Products had a net income of approximately $13 million the following year.

When Purolator was spun off by Pennzoil in 1992, the company was organized into four business segments.

By 1993, Parker's 26,000 employees operated 143 manufacturing plants and 87 administrative and sales offices, company stores, and warehouses around the world.

The company's new-found independence was short lived, however, as in 1994 Mark IV Industries, Inc. acquired Purolator Products Co. for $260 million.

Parker achieved all-time sales and earnings records in fiscal year 1995 with $3.21 billion in sales and net income of $218.2 million or $2.96 per share.

In 1997, Parker moved into a newly-constructed global headquarters at 6035 Parkland Blvd. in MAYFIELD HEIGHTS and launched its first company website, www.parker.com.

Purolator received ISO 9001:2000 registration, allowing us to clearly define our quality focus, and align it with efforts to deliver superior customer care.

The company's 'Win Strategy', was launched in 2001 by Chairman, CEO and President, Donald E. Washkewicz, to align Parker's global operations to common goals and metrics that improve organizational efficiency and profitability.

Purolator was chosen as the official courier for the 2010 Winter Olympic Games.

With annual sales surpassing $13 billion in fiscal year 2013, approximately 58,000 employees supported operations in 49 countries around the world.