MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--
Parker Aerospace, a business segment of Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, is extending its component maintenance, repair, overhaul, and upgrade (MRO&U) license with Aircraft Accessories and Components Company (AACC) of Jeddah, Kingdom of Saudi Arabia. This license is a renewal of the previous license with expanded product lines and platforms based upon Parker’s wide range of hydraulic and flight control systems used by customers in the Middle East.
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Operators will be able to choose a locally owned repair station that can provide the OEM-quality capabilities that operators expect from Parker Aerospace without having to send their components outside the region. Parker Aerospace has been successful in placing this type of MRO&U capability where aircraft are operating, while also fulfilling strategic goals such as enhancing the local workforce, which is a major element of Saudi Vision 2030.
“Parker’s continued investment in world-class team members such as AACC opens up new opportunities for military operators to have a local source of MRO&U that ultimately reduces cost and allows for increased operational capabilities,” said John Cieslak, Parker Aerospace director of aftermarket business development. “We will continue support of the Royal Saudi Air Force fleets with specific MRO&U capability to support the new F-15SA fly-by-wire aircraft, for which Parker is providing an enhanced flight control system, as well as upgrades to legacy aircraft and rotorcraft used by Middle East operators. There are many US-made aircraft operating in this territory that can utilize this repair capability. Parker has flight control and hydraulic upgrades available for F-15, AH-64, UH-60, and C-130, all available through Parker licensees such as AACC,” Cieslak added.
About Parker Aerospace. Parker Aerospace is a global leader in the research, design, integration, manufacture, certification, and lifetime service of flight control, hydraulic, fuel and inerting, fluid conveyance, thermal management, lubrication, and pneumatic systems and components for aerospace and other high-technology markets. The company supports the world’s aircraft manufacturers, providing a century of experience and innovation for commercial, military, business, and general aviation aircraft.
About Parker Hannifin. With annual sales of $11 billion in fiscal year 2016, 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 has operations in 49 countries around the world. Parker has increased its annual dividends paid to shareholders for 60 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.
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