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Parker Celebrates Opening Of 2000th ParkerStore® Location In Lyon, France

Stocks in this article: PH

CLEVELAND, Oct. 4, 2012 /PRNewswire/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today celebrated the opening of the 2000 th ParkerStore, located in Lyon, France.  Senior executives from Parker joined the leadership team of industrial supply company Mabeo, a Parker distributor and Lyon store owner, at a ceremony to mark the occasion.  The Lyon store is Mabeo's 12 th ParkerStore.

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"For us to reach 2,000 stores is a remarkable achievement and further validates the need for the industrial retail services we provide for our customers everywhere around the world," said Don Washkewicz, Chairman, Chief Executive Officer and President of Parker. "These distributor-owned and operated stores give our customers immediate access to Parker products and exceptional services in towns across all regions. The ParkerStore concept is the fastest growing portion of our distribution channel and we anticipate reaching the next major milestone of 3,000 stores in the not-too-distant future, consistent with our target to open one store each business day for the foreseeable future."

Parker introduced its Industrial Retail™ concept with the opening of the first ParkerStore in Cleveland, Ohio in 1993. Working with Parker's global distribution partners, Parker designed the ParkerStore channel to reach the walk-in maintenance, repair and overhaul (MRO) or "industrial retail" marketplace. Parker marked the occasion of the 1,000 th ParkerStore location in Grand Junction, Colorado in 2007 and worked with distributors to double the network in the past five years with continued growth even through a global economic recession.

"The ParkerStore opportunity presents a complete business plan for distributors who are interested in operating a retail location," said Brad Fischer, Parker's Director of Global Retail Operations. "The stores also provide an important opportunity for our distributors to support local customers and boost MRO sales, which has become particularly important when business downturns can impact OEM business."

ParkerStores enable local access to the full depth and breadth of Parker products for the MRO market. The ParkerStore environment is designed to bring the warehouse out to the showroom by providing immediate access to critical components, which can have a big impact on a business' bottom line by helping to reduce the money and time lost due to equipment downtime.

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