Applied Industrial Technologies

Last updated
Applied Industrial Technologies, Inc.
Company type Public company
Founded1923;101 years ago (1923)
FounderJoseph M. Bruening
Headquarters Cleveland, Ohio, U.S.
Number of locations
More than 570 facilities
Area served
United States, Puerto Rico, Canada, Mexico, Australia and New Zealand
Key people
Neil A. Schrimsher (President & CEO)
Products
  • Bearings
  • Power Transmission
  • Fluid Power
  • Flow Control
  • Industrial Rubber
  • General Maintenance
Number of employees
 6,200 (June 2023)
Website applied.com
Footnotes /references
  • Founded, Number of Locations [1]
  • Headquarters, Number of Employees [2]

Applied Industrial Technologies, Inc.(AIT) is a public, global company based in the U.S. and focused on the distribution of bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions[ buzzword ], and other industrial supplies. AIT provides engineering, design and system integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, fluid power, and flow control shop services.

Contents

Company history

Joseph M. Bruening founded Applied Industrial Technologies, then called The Ohio Ball Bearing Company, in 1923. Over the next few decades, new branches opened and sales rose steadily.

The company's name was changed from The Ohio Ball Bearing Company to Bearings, Inc. in 1953 and was first publicly traded on the American Stock Exchange that same year. In 1997, the Company changed its name to Applied Industrial Technologies to more accurately reflect its diversified product lines, and is currently traded on the New York Stock Exchange with the symbol AIT.

From the 1950s through the early 1990s, the Company targeted U.S. expansion with small and mid-size acquisitions. In the mid-1990s, the Company increased the overall pace of acquisitions, expanding its fluid power operations in particular. Since 2000, Applied has also grown internationally with locations in Canada, Mexico, Australia, New Zealand and Singapore.

See also

Related Research Articles

<span class="mw-page-title-main">SKF</span> Worlds largest bearing manufacturer

AB SKF is a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, in 1907. The company manufactures and supplies bearings, seals, lubrication and lubrication systems, maintenance products, mechatronics products, power transmission products, condition monitoring systems and related services globally.

<span class="mw-page-title-main">Bearing (mechanical)</span> Mechanism to constrain relative movement to the desired motion and reduce friction

A bearing is a machine element that constrains relative motion to only the desired motion and reduces friction between moving parts. The design of the bearing may, for example, provide for free linear movement of the moving part or for free rotation around a fixed axis; or, it may prevent a motion by controlling the vectors of normal forces that bear on the moving parts. Most bearings facilitate the desired motion by minimizing friction. Bearings are classified broadly according to the type of operation, the motions allowed, or the directions of the loads (forces) applied to the parts.

Eaton Corporation plc is an Irish/American multinational power management company, founded in the United States and incorporated in Dublin, Ireland, with a primary administrative center in Beachwood, Ohio. Eaton has more than 85,000 employees and sells products to customers in more than 175 countries.

<span class="mw-page-title-main">Magnetic bearing</span> Bearing which supports loads using magnetic levitation

A magnetic bearing is a type of bearing that supports a load using magnetic levitation. Magnetic bearings support moving parts without physical contact. For instance, they are able to levitate a rotating shaft and permit relative motion with very low friction and no mechanical wear. Magnetic bearings support the highest speeds of any kind of bearing and have no maximum relative speed.

The Timken Company is a global manufacturer of bearings and power transmission products. Timken operates from 42 countries.

<span class="mw-page-title-main">Yokogawa Electric</span> Japanese electrical engineering company

Yokogawa Electric Corporation is a Japanese multinational electrical engineering and software company, with businesses based on its measurement, control, and information technologies.

Federal-Mogul Corporation is an American developer, manufacturer, and supplier of products for automotive, commercial, aerospace, marine, rail, and off-road vehicles, as well as industrial, agricultural, and power-generation applications. It was acquired in February 2022 by Apollo Global Management.

<span class="mw-page-title-main">Dover Corporation</span> American industrial conglomerate corporation

Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under "DOV." Dover was ranked 445 in the 2023 Fortune 500. The company relocated its headquarters to Illinois from New York in mid-2010.

<span class="mw-page-title-main">Acuity Brands</span> Industrial company

Acuity Brands, Inc. is a lighting and building management firm headquartered in Atlanta, Georgia, with operations throughout North America and in Europe and Asia. As of 2018 the company has approximately 13,000 employees and recorded net sales of $3.7 billion for the fiscal year. In terms of market share, Acuity Brands is the largest lighting manufacturer in North America.

<span class="mw-page-title-main">MinebeaMitsumi</span> Japanese multinational corporation

MinebeaMitsumi, Inc. is a Japanese multinational manufacturer of mechanical components and electronic devices. The company's headquarters are located in Higashi-Shinbashi, Minato, Tokyo, and its registered office is located in Miyota, Nagano.

Rotork plc is a British-based company manufacturing industrial flow control equipment. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

IDEX Corporation, based in Northbrook, Illinois, is a publicly traded company engaged in the development, design, and manufacture of fluidics systems, optics systems, fire and rescue equipment, and other specialty engineered products.

<span class="mw-page-title-main">Schaeffler Group</span> German bearings manufacturer

Schaeffler Technologies AG & Co. KG, also known as the Schaeffler Group, is a German manufacturer of rolling element bearings for automotive, aerospace and industrial uses. It was founded in 1946 by brothers Dr. Wilhelm and Dr.-Ing. E. h. Georg Schaeffler.

Ingersoll Rand Inc. is an American multinational company that provides flow creation and industrial products. The company was formed in February 2020 through the spinoff of the industrial segment of Ingersoll-Rand plc and its merger with Gardner Denver. Its products are sold under more than 40 brands across all major global markets.

Barden Corporation is a ball bearing manufacturer based in Danbury, Connecticut, USA with factories in Danbury, Winsted, Connecticut and in Plymouth, England. It previously had factories in Bridgeport, Connecticut and Haverhill, Massachusetts.

<span class="mw-page-title-main">NTN Corporation</span> Japanese manufacturer of bearings

NTN Corporation is one of the most prominent manufacturers of bearings in Japan, second domestically only to NSK Ltd. The company is one of the largest exporters worldwide of friction-reducing products such as constant-velocity joints.

<span class="mw-page-title-main">DynaVenture</span> Canadian business

DynaVenture Corp. was formed in 2000 by second generation family members Brian and Earl Eidem and Jo-Ann Thompson. Founding father Harold Eidem started the 60 year dynasty in 1948 in his Vancouver home with his first business Bearing and Transmission Supply (B&T). In 1973 Harold Eidem set up B&T Holdings Ltd to provide centralized services and act as the parent company to all of their business’ locations. In 1976, Harold Eidem died and the ownership of the company was transferred to his sons Brian and Earl Eidem and daughter Jo-Ann Thompson. In 1981, B&T Holdings changed its name to DynaVest Corp. to better indicate the new direction of the companies. In 2000, the Eidem family sold three major components of their holdings to Applied Industrial Technologies. That same year the company would again change names, DynaVest became DynaVenture and the Eidem family have since increased their holdings in technology and engineering companies.

Auburn Bearing & Manufacturing is a designer and manufacturer of ball and roller thrust bearings and custom machined components and is owned and operated in the small town of Macedon in Upstate New York. Founded in 1898, Auburn Bearing is one of the oldest continuously operating thrust ball bearing manufacturers in the United States. Auburn Bearing & Manufacturing is most known for its line of thrust bearings that incorporate a "V" groove raceway, historically known as the "Auburn Groove," which is specifically designed to reduce rolling friction by containing the ball bearings with four points of contact.

<span class="mw-page-title-main">GGB (company)</span>

GGB manufactures self-lubricating, prelubricated plain bearings and tribological polymer coating for various industries and applications. It has production facilities in the U.S., Germany, France, Slovakia, Brazil and China.

<span class="mw-page-title-main">Quaker Houghton</span> American chemical company

Quaker Houghton is an American chemical company that was founded in 1918. It is headquartered in Conshohocken, Pennsylvania. With its global presence in 21 countries and 35 locations worldwide, the company has over 50% of net sales outside of the United States. Quaker Houghton manufactures process fluids for use in the steel, aluminum, metalworking, automotive, mining, aerospace, tube & pipe, can making, and other industrial processes. On August 1, 2019, Quaker Chemical combined with Houghton International to form Quaker Houghton.

References

  1. Applied Industrial Technologies, Inc. "Form 10-Q, 3rd Quarter, 2012" (PDF). EDGAR . Retrieved Jan 12, 2013.
  2. Plunkett, Jack W., ed. (2008). Plunkett's Automobile Industry Almanac 2009. Plunkett Research. Applied Industrial Technologies, Inc. ISBN   9781593921224 via Google Books.