Applied Industrial Buys Mexican Concern

Applied Industrial Technologies (NYSE: AIT) has made an acquisition south of the border.

The distributor of bearings and industrial parts has bought Vycmex S.A. de C.V., which is headquartered in Monterrey and is Mexico's largest independent fluid power distributor with more than 70 employees. Applied did not say what it paid for Vycmex, which operates five service centers in Mexico and will operate as a 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 feel this increases our value as a supplier and will help us expand our market share in Mexico."

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