Radstone Technology And Parker Hannifin Announce Strategic Alliance

Range of rugged, liquid-cooled solutions to be developed Recognizing the growing need of customers to develop and implement COTS (commercial off-the-shelf) subsystems that feature higher power levels and thus require increased heat dissipation, Radstone Technology and the Aerospace Group of Parker Hannifin Corporation (NYSE: PH) today announced an agreement to collaborate on the development of a range of rugged, liquid-cooled  solutions that will substantially expand the performance envelope for COTS equipment in defense applications. First product announcements will be made early in 2005, further extending Radstone’s existing range of liquid-cooled ATR designs. Both Radstone Technology and Parker Aerospace deliver solutions to international aerospace, defense and government customers. Radstone is the world’s leading independent supplier of rugged COTS, high-performance, embedded computer products.  Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems. “As subsystems have become more powerful, the heat they generate – and the requirement to dissipate that heat – has increased rapidly,” said Colin Davies, Product Manager for Systems Products at Radstone. “Five years from now, COTS liquid cooling will be the norm rather than the exception.  This strategic alliance is exciting because it unites two companies who are leaders in their respective fields, and whose strengths are highly complementary:  our shared goal is to develop and deliver market-leading solutions that respond to the needs of our customers.” The agreement calls for Radstone and Parker to work together to define the customer requirement, based on Radstone’s intimate knowledge of the applications of COTS systems in defense environments and on Parker’s in-depth understanding of cooling systems and components, and for Parker to develop a ‘closed loop’ modular liquid cooling unit for use with Radstone’s 1 ATR chassis, and subsequent generations of cooling subsystem.   The two companies will jointly and independently market the resulting solutions. “We’re delighted to be entering into this agreement with Radstone,” said Jeff O'Reilly, Business Development Manager, Parker Advanced Cooling Systems.  “We see a significant opportunity to leverage the two companies’ expertise to bring new and innovative solutions to our customers.  Today, the lack of appropriate cooling solutions is a barrier to customers being able to implement the solutions they want – and we believe we can help them overcome that barrier.” About Parker Hannifin Corporation With annual sales of more than $7 billion, 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 commercial, mobile, industrial and aerospace markets. The company employs more than 48,000 people in 46 countries around the world. Parker has increased its annual dividends paid to shareholders for 48 consecutive 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 http://www.parker.com