Date: 2013-08-01

Applied Industrial Technologies Buys Chaines Plus

(August 4, 2011)

NEW YORK - Industrial parts distributor Applied Industrial Technologies Inc. said Thursday that it acquired Chaines-Plus for an undisclosed amount.

Chaines-Plus is based in Montreal and serves a broad base of industrial customers in the Montreal market with bearings, power transmission, and related products.

Applied Industrial said the management team with Chaines-Plus will stay with the company.

Todd A. Barlett, Applied's vice president of acquisitions and global business development, said the deal "further expands Applied's geographic footprint and creates additional opportunities to access a major economic sector of eastern Canada."

Shares of Applied Industrial, based in Cleveland, Ohio, fell $1.05, or about 3 percent, to $30.15 in afternoon trading amid a broad market downturn.

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