AIT 📈 Applied Industrial - Overview

Applied Industrial Technologies operates as a leading distributor of industrial technology solutions, catering to a diverse range of industries across the United States, Canada, Mexico, Australia, New Zealand, Singapore, and Costa Rica. The company's product portfolio encompasses a broad spectrum of industrial components, including bearings, power transmission products, engineered fluid power components, and automation solutions. Additionally, it offers specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, and various other industrial and maintenance supplies. This extensive range of products enables the company to provide comprehensive solutions for the general operational needs of its customers' machinery and equipment.

The company's business is structured into two primary segments: Service Center Based Distribution and Engineered Solutions. Through its network of service centers, Applied Industrial Technologies distributes industrial products, providing customers with convenient access to a wide range of components and supplies. Furthermore, the company operates fabricated rubber shops and deploys service field crews to install, modify, and repair conveyor belts and rubber linings, as well as offer customized hose assemblies. This integrated approach allows the company to deliver tailored solutions that meet the specific needs of its customers, enhancing their overall efficiency and productivity.

Applied Industrial Technologies serves a broad array of industries, including agriculture and food processing, cement, chemicals and petrochemicals, fabricated metals, forest products, industrial machinery and equipment, life sciences, mining, oil and gas, primary metals, technology, transportation, and utilities, as well as government entities. By providing technical support services and engaging in the distribution of fluid power and industrial flow control products, the company plays a vital role in supporting the operational requirements of its customers. Its advanced automation solutions, which encompass machine vision, robotics, motion control, and smart technologies, enable businesses to optimize their processes and stay competitive in an increasingly complex and dynamic environment.

With a history dating back to 1923, Applied Industrial Technologies has evolved significantly over the years, adapting to changing market conditions and expanding its product offerings to meet the evolving needs of its customers. Formerly known as Bearings, Inc., the company changed its name to Applied Industrial Technologies, Inc. in 1997, reflecting its broader focus on industrial technology solutions. Headquartered in Cleveland, Ohio, the company is committed to delivering value to its customers, shareholders, and employees, while maintaining its position as a leading player in the industrial distribution sector. For more information, please visit https://www.applied.com, ISIN: US03820C1053, Type: common stock, GICS Sub Industry: Trading Companies & Distributors.