(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.

Other News:
Applied Industrial Technologies Buys Chaines Plus
High-Capacity HS Slewing Ring Bearings from Kaydon Corp Bearings Division Featured in Data Sheet
EnPro Industries to Present at the Jefferies Global Industrial and A&D Conference
Can Simplicity Linear Bearings Be Modified?
Trans-Pacific Aerospace Company, Inc. Bearings Pass All Independent Tests
Bearing Resources Begins $2 Million Exploration Program At The Zymo Copper-Gold Project In British Columbia
Bearing Resources Executes Option Agreement With Precipitate Gold Corporation On Jay East Property, Yukon
ZKL Branch in China