Parker and Autocar Receive Large Follow-On Order for Refuse Trucks Featuring RunWise® Advanced Series Hybrid Drive System - Miami-Dade County Acquires 29 Autocar E3 Refuse Trucks with Fuel-Saving Technology PR Newswire CLEVELAND, Nov. 27, 2012 CLEVELAND, Nov. 27, 2012 /PRNewswire/ --Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced that Miami-Dade County in south Florida has placed a follow-on order for 29 Autocar E3 refuse trucks featuring Parker's fuel-saving RunWise® technology. These vehicles are being used in municipalities across the country yielding significant reliability and performance measures. (Photo:http://photos.prnewswire.com/prnh/20121127/CL18523) (Logo: http://photos.prnewswire.com/prnh/19990816/PHLOGO ) "We have invested significantly in the development of this technology and to see its benefits be proven out in the marketplace is very rewarding," said Jeff Cullman, President – Hydraulics Group. "Miami-Dade has seen some tremendous results with their test fleet and we are pleased they have made such a strong commitment to the technology with this large order. While they were able to secure federal EPA funding for half of this order, investing their own money demonstrates the positive economics and payback on the technology as a stand-alone purchase." Miami-Dade used funding from the United States Environmental Protection Agency (EPA) to purchase 15 of the vehicles as part of the National Clean Diesel Campaign's Emerging Technologies List. RunWise is the only drivetrain technology on the list. "We've been very pleased with the overall performance of the vehicles with RunWise technology," said Danny Diaz, Director of Fleet Management for Miami Dade County. "The savings we are seeing is significant when you look at the long-term with these hybrid trucks." Beyond brake energy recovery capabilities and reduced noise levels, the Autocar refuse trucks equipped with RunWise technology commonly demonstrate annual fuel savings in the range of 35-50 percent (equivalent to a 50-100 percent improvement in fuel economy measured in miles per gallon) for the automatic side loader, reusing as much as 71 percent of the vehicle's braking energy. Additional benefits include reduced maintenance costs, less engine wear and tear as well as extended brake life. The RunWise version of the Autocar refuse trucks is currently in operation in Miami-Dade County and a number of cities around the country including in Hialeah, Florida; Miami, Florida; Seymour, Indiana and Austin, Texas. For additional information on Parker's hydraulic hybrid drive technology, visit http://parkerhybrid.parker.com. 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. Forward-Looking Statements Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. All statements regarding future performance, earnings projections, events or developments are forward-looking statements. It is possible that the future performance and earnings projections of the company, including its individual segments, may differ materially from current expectations, depending on economic conditions within its mobile, industrial and aerospace markets, and the company's ability to maintain and achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, actions taken to combat the effects of the current economic environment, and growth, innovation and global diversification initiatives. A change in the economic conditions in individual markets may have a particularly volatile effect on segment performance. Among other factors which may affect future performance are: changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments, disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions; ability to realize anticipated cost savings from business realignment activities; threats associated with and efforts to combat terrorism; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; competitive market conditions and resulting effects on sales and pricing; increases in raw material costs that cannot be recovered in product pricing; the company's ability to manage costs related to insurance and employee retirement and health care benefits; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure, and undertakes no obligation to update them unless otherwise required by law. SOURCE Parker Hannifin Corporation Website: http://www.phstock.com Contact: Media - Aidan Gormley, Director, Corporate Communications, +1-216-896-3258, firstname.lastname@example.org; Financial Analysts - Pamela Huggins, Vice President & Treasurer +1-216-896-2240, email@example.com
Parker and Autocar Receive Large Follow-On Order for Refuse Trucks Featuring RunWise® Advanced Series Hybrid Drive System
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