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May 14, 2008

Applied Industrial Agrees to Buy Mexican Firm

Applied Industrial Technologies, Cleveland, OH, has agreed to acquire Suministros Industriales Enol, S.A. de C.V. and its group of companies.
 
Enol is one of Mexico's largest distributors of power transmission products including bearings, hydraulic hose, electric motors, conveyor products, and lubricants, and had sales of US$25 million in 2007.
 
It operates 10 service centers in Saltillo, Monterrey, San Luis Potosi, Queretaro, Silao, Toluca, Tlalnepantla, Puebla, Tehuacan, and Merida. The company has 145 employees and serves a broad segment of industrial customers including steel, cement, pulp and paper, sugar, and others.
 
With this acquisition, Applied Mexico will serve Mexican industry through 17 service centers and three sales offices in 13 states.
 
Applied Industrial Technologies, Inc. has more than 445 facilities in North America. For its fiscal year ended June 30, 2007, Applied posted sales of $2 billion.

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