Parker Creates Endowed Chair at Cleveland State University for Research in Human Motion and Control - Company expands charter to address the mobility challenges of the disabled
CLEVELAND, Sept. 20, 2012 /PRNewswire/ -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced that it has pledged $1.5 million to Cleveland State University (CSU) to fund an endowed professorship for research aimed at advancing understanding of human motion. The primary objective of this research is to improve advanced prosthetics and orthotics in their ability to replicate the movement of healthy human limbs.
Dr. Antonie van den Bogert, an internationally renowned researcher in biomechanics, has been named the Parker Hannifin Endowed Chair in Human Motion and Control and will begin work this Fall in the Department of Mechanical Engineering at CSU's Fenn College of Engineering. He is best known for his innovative work analyzing human movement and the development of computer simulation methods to study the effects of neuromuscular control and mechanical devices on human movement. The endowment includes funding for a new laboratory and illustrates Parker's continuing commitment to partner with engineering programs to further its own research and development initiatives.
"We feel that this partnership holds great promise as a catalyst for innovation in the field of assistive motion technology," said Craig Maxwell, Vice President – Technology and Innovation. "This developing field is a natural extension for Parker, leveraging our broad technical competency in motion and control. This is a fundamental first step toward what we believe will be a series of transformational products serving people with mobility impairments."
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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