Nabtesco Automotive Corporation and Parker Hannifin Europe Sàrl announce introduction of new vehicle air dryer and enhanced strategic cooperation

The collaboration between Parker Hannifin’s Racor Filtration Division Europe (RFDE) and Nabtesco has yielded a new commercial vehicle air-dryer product for the European OEM market. The NDR delivers improved water and oil separation performance leading to extended cartridge life and therefore a reduction in overall operating costs and waste. The new product addresses the problem of free water in braking systems which can cause rust and freezing problems which may lead to malfunction.

The alliance between the two companies will see the manufacturing of the new NDR product line at a Parker Filtration plant in Europe and will utilise the synergy of the global collaboration. Going forwards, Nabtesco and Parker Hannifin will share the co-development of air dryer systems for medium-duty and heavy-duty applications in Europe.

Parker Hannifin Corporation Cleveland‘s (NYSE: PH) strategic alliance with the Tokyo, Japan headquartered Nabtesco Automotive Corporation to sell commercial vehicle air dryers in North America was formed in 2008. In 2010 the Parker Hannifin (Europe) Sàrl Filtration Group and the Nabtesco Automotive Company signed an additional distribution, supply, license and development agreement.

Nabtesco is the market leader in Japan and has been producing air-brake components for almost 80 years.

For further information please visit www.parker.com/racor

About Parker Hannifin Corporation

With annual sales exceeding $13 billion in fiscal year 2012, 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 employs approximately 60,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 56 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 web site at www.parker.com, or its investor information web site at www.phstock.com.

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