Leadership changes reflect new position, succession planning for company.
Latest In Parker Hannifin
Fourth-quarter sales down 10.8 percent year-over-year.
Thomas L. Williams, Lee C. Banks take reins at manufacturing company.
Robert Malone named company vice president, filtration group president
Fourth-quarter sales up 3 percent year-over-year.
Second-quarter profit was up 40 percent year-over-year.
North American diversified industrial segment sales decreased.
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Fourth-quarter sales increased 0.6 percent.
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Parker will have two reporting segments, diversified industrial and aerospace systems, starting in 2014.
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In Industrial North America, Parker Hannifin sales were down 2.4 percent.
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Profit fell 25.3 percent to $181.1 million.
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PGI manufactures flow control components for oil & gas, agriculture and petro-chemical applications.
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Ongoing weakness in international markets affects Parker Hannifin’s first-quarter results.
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Acquisition supports Parker’s position in commercial marine and large yacht markets.
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Colorado-based Velcon Filters manufactures filtration equipment for the aviation, industrial fuel and industrial process filtration markets.
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With the addition of K-D, B.W. Rogers will have 21 locations in seven states.
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