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Headquarters: Cleveland, OH
2009 Revenues: $1.9 billion
Change in Sales from 2008: -8%
Key Executives: CEO David Pugh; COO Benjamin Mondics; CFO Mark Eisele
CEO David Pugh spoke with MDM for an interview published Feb. 10 and Feb 25, 2010. The power transmission/bearing distributor has been growing in the fluid power space over the past decade. Most recently it acquired Fluid Power Resource LLC in late 2008. Applied Industrial Technologies is also keeping an eye on opportunities for acquisitions or growth in Canada and Mexico. Pugh also told MDM it has invested over the past several years in supplying less cyclical markets including the government and food and beverage. It added 4,000 products to its 2009/2010 master product catalog.
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