Parker Hannifin Shifts Focus to Innovation

The new focus on smaller endeavors involves setting up new business units in partnership with startup companies dabbling in areas such as fuel cells.

Published: 02-Apr-2005

Parker Hannifin Corp., with 48,000 employees making parts used in all kinds of things that move, is focusing business units on small endeavors as it looks to its past when it was known as an innovator.

The company, based in suburban Cleveland, has operations and customers around the world. Its main manufacturing business makes parts for everything from amusement park rides to factory machines to jet airplanes.

The new focus on smaller endeavors involves setting up new business units in partnership with startup companies dabbling in areas such as fuel cells.

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