Parker Hannifin Selects Siemens as Strategic Energy Partner

Parker Hannifin Corporation (NYSE: PH), a leading diversified manufacturer of motion control technologies and systems, has selected Siemens Building Technologies, Inc. (the Energy Services & Solutions unit), as the strategic energy management outsourcing partner to manage Parker’s annual energy budget across 40 selected facilities in North America. The energy services agreement is for an initial period of two years. Siemens will assist Parker with electricity and natural gas procurement, deregulation issues impacting competitive procurement of energy, energy infrastructure efficiency opportunities, and overall mitigation of cost exposure within the energy markets. The goal of the energy services program is to reduce Parker’s energy usage and costs by more than 3% per year during the term of this agreement. The services will also improve efficiencies and energy-related asset performance, within Parker facilities across North America by generating an additional 2% to 7% of savings. Under the program, Siemens will implement Utility Information Management, Supply-side Management, Demand-side Management and Value-added Energy Solutions designed to complement Parker Hannifin’s existing energy team, leverage the best-in-class expertise of Siemens as an energy management services partner, reduce or eliminate execution risks associated with volatile energy markets, and uncover other potential energy savings opportunities. Parker’s Corporate Energy Programs Manager, Mike Nalepka, said their search for a company to align with was extensive. “Parker wanted to select one vendor who could provide us with the best overall program expertise in supply, demand and utility information management services. We choose Siemens because they showed an ability to demonstrate active success across all of these disciplines within its existing customer base. This will provide Parker with multiple cost and usage reduction strategies simultaneously through a single provider.” Parker Hannifin Corporation is the world’s leading diversified manufacturer of motion control technologies and systems with annual sales exceeding $6 billion. Parker provides precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. The company employs more than 48,000 people in 44 countries around the world. For more information, visit the company’s Web site at www.parker.com, or its investor information site at www.phstock.com Siemens Building Technologies, Inc., one of Siemens’ operating companies in the United States, is a leading single-source provider of cost-effective facility performance solutions for the comfort, life safety, security, and performance of some of the most technically advanced buildings in the world. In North America, SBT employs 8,500 people and provides local service from more than 100 locations coast-to-coast. For more about Siemens Building Technologies, visit: www.sbt.siemens.com