Market Overview

Parker Aerospace Joint Venture Company ACE Services Expanding Capabilities to Become Center of Excellence for Boeing 747-400 and 747-800 Flight Control Maintenance, Repair, and Overhaul (MRO)

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Leading maintenance, repair, and overhaul (MRO) facility in Singapore
supports 747 operators in the Asia Pacific region and worldwide with
global aftermarket strategy

Parker
Aerospace
, a business segment of Parker Hannifin Corporation
(NYSE:PH), the global leader in motion and control technologies, today
announced plans for its Singapore-based joint venture company, Aerospace
Component Engineering Services (ACE Services)
, to become a global
center of excellence for the Boeing 747-400 and 747-800 flight controls.
Working with the Parker Aerospace Control
Systems Division
and Customer
Support Operations
to expand its flight control support
capabilities, ACE Services now supports maintenance, repair, and
overhaul (MRO) for the 747-400 and plans to fully assume MRO for the
747-800 in the third quarter of 2019.

In 2005 Parker Aerospace partnered with SIA
Engineering Company
to form ACE Services, a hydraulics repair
facility specializing in the repair of aircraft hydromechanical
products, including both Parker and non-Parker equipment. The joint
venture facility was the first independent hydraulic repair service
center in the region capable of providing hydraulic testing services up
to 5,000 psi for technologically advanced aircraft such as the Boeing
787 and Airbus A380.

"Since its inception, ACE Services has broadened its expertise to
include the repair and overhaul of flight control components to better
meet the needs of its international airline and other MRO customers in
the Pacific Rim," said Brian Hunter, general manager of ACE
Services
. "With the expertise we have gained over years supporting
Asia Pacific customers operating 747 aircraft, it is a natural
transition to become Parker's global center of excellence so that
customers can benefit from the best-in-class support for which ACES is
known."

Parker Aerospace is the original equipment manufacturer for the flight
control systems of the Boeing 747-400 and 747-800 aircraft. While Parker
Aerospace ramps up production for OEM flight control components, its Control
Systems Division
(CSD) will simultaneously begin shifting all of its
U.S. repair and overhaul support of Boeing 747 products from its Ogden,
Utah, facility to the ACE Services facility in Singapore.

"This planned strategy will enable ACE Services to support major Boeing
747 operators on a more global scale by transforming our world-class
repair center into a more comprehensive center of excellence," commented
Vic Jorcyk, Parker Aerospace Customer
Support Operations
vice president, commercial aftermarket. "Adding
this latest level of integration will allow us to combine our expanding
technical expertise with complete supply chain management to bring fleet
management service to the highest possible level."

All future Parker-manufactured components for the 747 will now be
overhauled and repaired by ACE Services in Singapore. ACE Services
currently maintains a large stock of rotable assets to support aircraft
on ground (AOG) and exchange services.

To learn more about Parker's expanded Boeing 747 flight control
capabilities at ACE Services, please contact Brian Hunter, general
manager, ACE Services at +65 6540 1885 or brian.hunter@parker.com.

The Parker Aerospace stand is in hall 5, stand #C10, at the Paris Air
Show, June 17-23, 2019.

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
and aeroengine manufacturers, providing a century of experience and
innovation for commercial and military aircraft.

About Parker Hannifin. Parker Hannifin is a Fortune 250 global
leader in motion and control technologies. For more than 100 years the
company has engineered the success of its customers in a wide range of
diversified industrial and aerospace markets. Learn more at www.parker.com
or @parkerhannifin.

About SIA Engineering Company. SIA Engineering Company is a major
provider of aircraft maintenance, repair and overhaul services in
Asia-Pacific. It provides line maintenance services at 34 airports in
seven countries, airframe and component services on some of the most
advanced and widely used commercial aircraft in the world, as well as
comprehensive suite of solutions under its fleet management services.
The 24 subsidiaries and joint ventures with original equipment
manufacturers and strategic partners further increase the depth and
breadth of its service offerings.

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