Parker-Hannifin Corporation (Parker) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components. The Company also is a worldwide producer of fluid purification, fluid and fuel control, process instrumentation, air conditioning, refrigeration, electromagnetic shielding and thermal management products and systems. The Company's motion and control technologies and systems are used in the products of its three business segments: Industrial, Aerospace, and Climate & Industrial Controls. In July 2012, the Company acquired Olaer Group. In July 2012, the Company acquired the filtration business of John Fowler (India) Private Limited. In July 2012, the Company acquired the hydraulics manufacturing division of PIX Transmissions Ltd. In July 2012, it acquired Kittiwake Developments Limited. In November 2012, The Sterling Group sold Velcon Filters, LLC to the Company.