PH Parker-Hannifin Corporation

Parker Becomes the Official Control Systems Partner to American Magic for the 2024 America’s Cup

Parker Becomes the Official Control Systems Partner to American Magic for the 2024 America’s Cup

CLEVELAND, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced it will design and implement advanced control systems for New York Yacht Club American Magic racing yachts and support the challenger’s pursuit of the 37th America’s Cup. 

As Official Control Systems Partner to American Magic, Parker will use its proven aerospace and industrial technologies for systems that enable precise control of the yacht’s lifting surfaces and wing - providing optimum performance that is critical at the elite level of competitive sailing. 

“Parker is thrilled to support American Magic once again, building on our achievements from the previous campaign and the trusted partnership we have developed together,” said Mark Czaja, Vice President - Chief Technology and Innovation Officer for Parker. “Their elite sailors will helm some of the fastest boats ever built, and we look forward to the challenge of bringing the America’s Cup back in 2024.”

The upcoming America's Cup will feature the AC75 class, a high-performance foiling monohull. With a crew of eight members, the AC75 is renowned for its distinctive engineering and sailing techniques, enabling it to attain early lift and reach remarkably high speeds while foiling. The boat undergoes continuous enhancements, focusing on reduced weight and upgraded onboard electronics and software systems.

"We're truly privileged to have Parker as a vital part of our team," said Terry Hutchinson, Skipper and Executive Director of American Magic. "Parker has brought in world-class engineers and cutting-edge products that significantly enhance our capabilities. Their extensive experience in sailing, the marine industry, and the America’s Cup has been invaluable. As we evolve through this campaign, we have confidence that Parker's continued support will be instrumental in our pursuit of victory in the 37th America’s Cup."

By applying more than a century of engineering expertise, 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. 

“When the America’s Cup racing yachts begin to rise above the water, traveling faster than the wind, and you watch as they literally take flight, part of it does feel like magic,” added Czaja. “Our engineers are excited to apply Parker’s technologies and flight control expertise at the highest level of international sport, and we are honored to compete in this historic race as part of the American Magic team.”

The 37th America’s Cup will take place in Barcelona, Spain in October 2024. Prior to the match, American Magic will compete in the final Preliminary Regatta and the Louis Vuitton Cup, the Challenger selection events, for the right to face current Cup Defender Team New Zealand. 

Please visit  to learn more. 

About Parker Hannifin

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at  or @parkerhannifin.com.

About American Magic

American Magic is building the high-performance sailing franchise in the United States with a dual mandate to win the America’s Cup and elevate sailing in America. Formed in 2017, New York Yacht Club American Magic combines two highly successful American racing programs, Bella Mente Racing and Quantum Racing, with one of the most prestigious yacht clubs in the world. All are united by a determination to regain the America’s Cup, reconnect the American sailing base with the premier event in the sport, and elevate the quality of competitive sailing in the United States.



###

Attachment



Media –
Aidan Gormley - Director, Global Communications and Branding
216/896-3258
 
EN
19/12/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Parker-Hannifin Corporation

 PRESS RELEASE

Parker to Acquire Curtis Instruments, Expanding Electrification Offeri...

Parker to Acquire Curtis Instruments, Expanding Electrification Offering Enhances Electrification Capabilities with Complementary Technologies for In-Plant Material Handling and Off-Highway Market ApplicationsAdds Suite of Control Solutions to Pair with Parker’s Electric Motor and Motion Control Portfolio for Electric and Hybrid Solutions CLEVELAND, June 30, 2025 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced that it has agreed to acquire Curtis Instruments, Inc. from Rehlko, for approximately $1 bil...

Parker Hannifin Corp: 1 director

A director at Parker Hannifin Corp sold 958 shares at 667.510USD and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clea...

 PRESS RELEASE

Parker Announces Retirement of Filtration Group President Rob Malone, ...

Parker Announces Retirement of Filtration Group President Rob Malone, Elects Matt Jacobson as Successor CLEVELAND, May 08, 2025 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that Robert W. Malone, Vice President and President – Filtration Group, will retire on August 31, 2025, after 12 years of dedicated service to the company. Parker’s Board of Directors has elected Matthew A. Jacobson, currently Vice President of Operations – Motion Systems Group, to succeed Mr. Malone as Vice President and President – ...

 PRESS RELEASE

Parker Reports Fiscal 2025 Third Quarter Results

Parker Reports Fiscal 2025 Third Quarter Results Record margins, EPS and YTD cash flow from operations CLEVELAND, May 01, 2025 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today reported results for the quarter ended March 31, 2025, that included the following highlights (compared with the prior year quarter): Fiscal 2025 Third Quarter Highlights: Sales were $5.0 billion; organic sales growth was 1%Net income was $961 million, an increase of 32%, or $904 million adjusted, an increase of 6%EPS were $7.37, an increase ...

 PRESS RELEASE

Parker Increases Quarterly Cash Dividend 10% to $1.80 per Share

Parker Increases Quarterly Cash Dividend 10% to $1.80 per Share CLEVELAND, April 24, 2025 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that its Board of Directors has declared a quarterly cash dividend of $1.80 per share of common stock to shareholders of record as of May 9, 2025. The dividend is payable June 6, 2025. The dividend represents a 10% increase over the previous quarterly cash dividend of $1.63 per common share and will be the 300th consecutive quarterly dividend paid by the company. “This di...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch