Parker Reaches Agreement to Sell Automotive Air Conditioning Business to ContiTech AG; Terms Not Disclosed

Parker Hannifin Corporation

, the global leader in motion and control technologies, today announced that it has signed a definitive agreement to sell the automotive air conditioning portion of its Mobile Climate Systems Division to ContiTech AG of Hanover, Germany.  Terms of the transaction were not disclosed and completion of the agreement is subject to regulatory approvals and customary closing conditions.