The distributor has agreed to acquire SKF’s distribution businesses down under.
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Latest In Applied Industrial
Applied Industrial Technologies, LP – the Canadian-operated subsidiary of Applied Industrial Technologies, Inc. – acquired the group in 2010.
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Solutions Industrielles Chicoutimi and Specialites Industrielles Harvey will continue to operate under their existing names.
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Profit declined 1.4 percent in the quarter.
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Profit for the industrial distributor increased 27.1 percent.
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Neil Schrimsher succeeds David Pugh who will retire at the end of October.
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Applied’s fiscal year sales were up 16.9% from the prior-year period.
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Acquisition expands reach in Montreal market.
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Distributor releases 2011-2012 product catalog.
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Gulf Coast Bearing & Supply Co. locations will become Applied service centers.
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Year-to-date, sales for Applied are up 18.5%.
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In fiscal 2011 second quarter, sales were fueled by ‘recovering industrial economy,’ Applied CEO says.
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The industrial distributor expects higher demand to continue.
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Sales for the industrial distributor were up 23 percent in the fourth quarter.
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Distributor acquires SCS Supply Group, formerly known as Toronto Bearing & Belting, and CBS Equipment.
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UZ expands Applied Industrial’s government business.
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AIT profit also grows compared with 2009; end-market activity improves.
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This is Part 2 of an interview with David Pugh, CEO of industrial distributor Applied Industrial Technologies. In this piece, Pugh talks about new markets, fluid power, e-commerce, integrated supply and the impact of the recession on channel relationships. Find Part 1 of this interview here.
MDM: You have made some key acquisitions in the fluid power segment. How does that fit into your growth plans going forward?
David Pugh: We started our fluid power growth in the mid-‘90s. I am not sure we truly understood the business when we headed into it because we pictured it to be a lot like bearing and power transmission. The manufacturers supplying the industry have a different mindset with regard to how they use distribution and how they authorize distribution. That was an eye-opener for us.
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Applied Industrial CEO to MDM: ‘Recovering’ may start to happen by the end of 2010.
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MDM Editor Lindsay Konzak sat down with David Pugh, CEO of $1.9 billion Cleveland, OH-based industrial distributor Applied Industrial Technologies, at the annual National Association of Wholesaler-Distributors meeting January in Washington, D.C. Applied recently reported sales for the second quarter ended Dec. 31, 2009, were down 11 percent to $446.3 million from the same period last year.
In Part 1 of this interview, Pugh discusses how Applied is responding to current economic and market conditions. Part 2 of this interview will appear in the Feb. 25, 2010, issue of MDM.
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