Parker-Hannifin Wins Another Contract from Rolls-Royce
Leading motion and control technologies company Parker-Hannifin Corporation (NYSE: PH) recently announced that its high-temperature fuel hoses and related support services have been selected by Rolls-Royce for their two engines, Trent 1000 -TEN and Trent 1000 package C, that are being designed for the Boeing 787 Dreamliner aircraft.
The scope of the contract requires Parker-Hannifin to provide the high-temperature hoses to direct fuel to the engine. The company will be designing and manufacturing the product at its Stratoflex Products Division located in Fort Worth, TX. The contract also entails Parker-Hannifin to supply comprehensive customer service and components support for the complete life cycle of the engines. The company expects the initial Trent 1000 -TEN components to be delivered by the end of 2014.
Prior to this, Parker-Hannifin has also provided support services for other Rolls-Royce engine programs like the RB211, RB715, BR710, R710A2-20, Trent 500, Trent 800, Trent 1000, Trent XWB-84, Trent XWB -97, TP400 and its LiftFan clutch actuation system as well. The company has been providing integrated services as per Rolls-Royce's TotalCare programs, which facilitate the long-term predictability and optimization of costs.
Parker-Hannifin Corporation is a manufacturing company providing motion and control technologies to both industrial and aerospace markets. The company's expertise will enhance Rolls-Royce's engines and airline fleets that will be used across the globe. Parker-Hannifin will also gain significantly from this long-term contract as it will enable the company to broaden its presence in the aerospace sector.
Parker-Hannifin currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector include Ingersoll-Rand Plc (NYSE: IR), Nordson Corp. (NASDAQ: NDSN) and Twin Disc (NASDAQ: TWIN). All three hold a Zacks Rank #2 (Buy).
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