(May 3, 2011)

CLEVELAND, Ohio -- Applied Industrial Technology, a Cleveland company that sells and distributes bearings and thousands of other industrial supplies, has agreed to purchase Gulf Coast Bearing & Supply Co.

Based in Corpus Christi in South Texas, Gulf Coast sellings bearings and transmission products to oil and gas drilling companies and other businesses in that region.

"The acquisition is a win-win for the customers of both companies as we expand our product offering and technical support into this region," Applied Industrial vice president Todd Barlett said in a written statement.

Founded in 1923, Applied Industrial for years has grown by buying competitors and expanding its geographic offerings.

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