Aug. 4, 2011
/PRNewswire/ -- Applied Industrial Technologies Ltd., the Canadian subsidiary of Applied Industrial Technologies, Inc. (NYSE: AIT), today announced it has acquired the business of Chaines-Plus. Terms of the sale were not disclosed.
Chaines-Plus operates one location on the South Shore of
and serves a broad base of industrial customers in the
market with bearings, power transmission, and related products.
The current management team, headed by
, will continue to serve with the Applied organization, reporting to
, Vice President for the Eastern Canadian operations of Applied.
"We're very pleased to enter the
market with the established expertise and reputation of Chaines-Plus," said
Todd A. Barlett
, Vice President – Acquisitions and Global Business Development for Applied. "This acquisition further expands Applied's geographic footprint and creates additional opportunities to access a major economic sector of
"We are happy to be joining a company that will help broaden our product lines and source of supply," said Mr. Boudreau. "Applied will give us greater depth and will strengthen our ability to serve our customers."
With approximately 470 facilities and 4,600 employee associates across
, Applied Industrial Technologies is an industrial distributor that offers more than 4 million parts critical to the operations of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. Applied also offers maintenance training, plus solutions to meet inventory and storeroom management needs that help provide enhanced value to its customers. For its fiscal year ended
June 30, 2010
, Applied posted sales of
. Applied can be visited on the Internet at
SOURCE Applied Industrial Technologies Ltd.