Applied Industrial Technologies, Inc. acquired substantially all assets of Texas Oilpatch Services Corporation for $0.02 million.
January 02, 2014 at 09:30 am IST
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Applied Industrial Technologies, Inc. (NYSE:AIT) acquired substantially all assets of Texas Oilpatch Services Corporation for $0.02 million in December 2013. The transaction is expected to be accretive for Applied Industrial in the current fiscal year.
Applied Industrial Technologies, Inc. (NYSE:AIT) completed the acquisition of substantially all assets of Texas Oilpatch Services Corporation in December 2013.
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Companyâs segments include Service Center Based Distribution and Engineered Solutions. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services.
APPLIED INDUSTRIAL TECHNOLOGIES, INC. 
