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Applied Industrial Expands Network in Mexico
December 17, 2007
Applied Industrial Technologies, Cleveland, OH, has acquired VYCMEX S.A. de C.V., headquartered in Monterrey, Mexico. It is a fluid power distributor with more than 70 employees.   ; VYCMEX operates five service centers in Monterrey, Mexico City, Veracruz and San Luis Potosi. It will operate as a wholly-owned subsidiary of Applied Mexico Holdings S.A. de C.V.   ; The acquisition of VYCMEX gives Applied substantial expertise and capabilities in fluid power products and systems in Mexico," said Todd A. Barlett, Vice President -Acquisitions and Global Business Development for Applied.  ; "We can now provide a total product solution for Mexican industries that covers a broad range of hydraulics, pneumatics, bearings, power transmission and general industrial supplies.  ; We feel this increases our value as a supplier and will help us expand our market share in Mexico."   ; The VYCMEX and Applied Mexico network includes nine service centers that support customers with bearing and power transmission products, and five service centers that provide fluid power products and services.   ; Applied Industrial Technologies is an industrial distributor that offers more than 3 million parts. For its fiscal year ended June 30, 2007, Applied posted sales of $2 billion.