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About Applied Industrial Technologies

Applied Industrial Technologies (NYSE: AIT) is an industrial distributor of bearings, power transmission components, hydraulic components and systems, pneumatic components and systems, industrial rubber products, linear components, tools, safety products, general maintenance, and a variety of material handling products. The company also provides customized mechanical, fabricated rubber, and fluid power shop services, as well as services to meet storeroom management and maintenance training needs.

Applied Industrial Technologies Headquarter Location

One Applied Plaza

Cleveland, Ohio, 44115,

United States

216-426-4000

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Latest Applied Industrial Technologies News

Kassow Robots partners with automation distributor

May 4, 2022

Kassow Robots partners with automation distributor Industrial automation partner Gibson Engineering bolsters Kassow Robots’ position in US manufacturing. Kassow Robots , a developer of 7-axis cobot solutions for machine tending, material handling, and related applications, has partnered with Norwood, Massachusetts-based Gibson Engineering , a subsidiary of Applied Industrial Technologies. Gibson Engineering is a value-added distributor of automation solutions serving manufacturers in all industries in the northeastern U.S., from Maine to Maryland. The KR series of lightweight 7-axis collaborative robots supplements Gibson Engineering’s solutions to efficiently complete light manufacturing operations in the medical, semiconductor, and electronics industries. “Gibson Engineering’s long-established operation gives Kassow Robots the opportunity to work with world-class manufacturers in the U.S. that can benefit from strong, fast, and simple cobots,” says Dieter Pletscher, the head of global sales at Kassow Robots. The 7-axis cobots offer speed and power combined with a long reach and a high degree of flexibility to work in tight and awkward spaces. The KR series can handle payloads up to 18kg and reach up to 1,800mm, allowing customers to automate a variety of physically demanding and/or repetitive tasks. The seventh axis enables continuous dispensing, welding, and material removal applications, regardless of access angle, without the need to reorient the arm. “The KR 7-axis cobots use workspaces efficiently and give programmers more options for completing tasks than traditional 6-axis devices,” says Rob MacDonald, director of sales and marketing at Gibson Engineering. “The combination of performance, ease of use, and safety makes the Kassow cobots a great addition to our product portfolio.” Small- and medium-sized enterprises (SMEs) without robotics specialists can carry out complex automation and programming cost-effectively and independently with Kassow Robots solutions. The cobots are perfect for limited-space retrofits and applications such as machine tending, pick-and-place tasks, quality inspection, and palletizing. OKAY Industries, a contract manufacturer of components and subassemblies for global medical device original equipment manufacturers (OEMs), announces the addition of plastic molding and insert molding to its custom manufacturing capabilities. These new, in-house processes at the company’s New Britain, Connecticut and Alajuela, Costa Rica facilities allow OKAY to further integrate its production operations, improving efficiency and manufacturing continuity while reducing lead times. “We are excited to introduce these new processes to our already robust manufacturing capabilities,” states Sean Stowik, director of sales and marketing at OKAY Industries . “While there is a clear value in quality, as components never leave the strict compliance standards of our own facilities, this service also allows us to expand the way we support customers, furthering our customer-centric approach to part design, manufacturability and production.” As part of the expansion, OKAY Industries has invested in both horizontal and rotary vertical molding machines, as well as additional automation systems, inspection equipment and advanced quality control technologies. The vertical integration of plastic molding and insert molding improves quality control, reduces supply chain risks, and supports cost control initiatives. Plastic molding and insert molding are increasingly common processes in many medical devices. With unique design flexibilities, plastic molding processes are often used on parts used for surgical, endoscopic, laparoscopic and ligation applications. OKAY’s insert and two-shot insert molding production capability, combined with multi-cavity and small shot molding capabilities, allows for highly efficient production of medical and surgical components that require tight tolerance and/or difficult-to-intricate part geometries, reducing secondary operations, increasing flexibility of design, and allowing for an increased variety of shapes, styles and options. OKAY Industries currently produces a wide range of metal tubes, shafts, blades, and other components to be insert molded. “The addition of plastics to our metal tube forming, laser tube cutting, and precision stamping and machining operations allows us to provide fully-integrated manufacturing of parts for many highly-precise medical applications,” Stowik says. “We are pleased to expand the ways we deliver value to our customers and are ready to help solve design challenges and support supply chain continuity and cost controls with these new plastic capabilities.” February 2022 U.S. cutting tool consumption totaled $167.6 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology . This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 4.8% from January's $159.9 million and up 12.1% when compared with the $149.5 million reported for February 2021 . With a year-to-date total of $327.5 million, 2022 is up 11.3 % when compared to the same time period in 2021. These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools. “Monthly data since March 2021 has been averaging approximately $166 million per month with limited monthly variation,” comments Costikyan Jarvis, president of Jarvis Cutting Tools. “This contrasts with the overall economy, which experienced constant GDP growth over the same period. Of special concern is that during this period, the economy saw significant inflationary pressure, which would suggest actual output is even lower relative to 2019. The two main users of cutting tools, automotive and aerospace, continue to have challenges.” Despite the numerous headwinds, Jeff Major, president of USCTI had a more optimistic outlook, saying, “The cutting tool market started sluggishly in January but rebounded in February. The indices for durable goods and cutting tools continue to run parallel in an upward trend. With the supply chain challenges and volatility overseas, many companies are looking at re-shoring, which should bode well for our industry in the future.” The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production, and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process – the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels. Jingdiao high speed, precision machining centers for manufacturers of die/mold, medical, aerospace, automotive, energy products and graphite components are now exclusively available from and supported by eight nationwide facilities of Dayton, Ohio-based distributor, Gosiger Inc. With more than 100,000 machines in service worldwide, Jingdiao is a major supplier of 3- and 5-axis high precision machining centers focused on small, complex components. Time and labor-saving features include integrated online measurement and intelligent modification technology coupled with SurfMill CAD/CAM software to eliminate interruption of the machining process for offline parts inspection. To ensure clean, precise production of graphite electrodes and glass molds, Jingdiao graphite machining centers have a unique dust-proof, positive air pressure design. Gosiger will provide installation, training, maintenance, replacement parts and technical support for Jingdiao machines, as it does for all products it represents. For 100 years Gosiger, a third-generation family-owned company, has contributed to American manufacturing success by providing exceptional machine tools, accessories and automation solutions backed by hundreds of qualified technicians and engineers. Solar Atmospheres of Western PA (SAWPA) was recently awarded three years merit status for SHARP Accreditation. The Safety and Health Achievement Recognition Program (SHARP) is designed to recognize employees and employers for their effort in establishing and maintaining all elements of an effective safety and health program. “Solar’s SHARP re-accreditation singles out our company, along with 46 other Pennsylvania companies, as a model for workplace safety and health” explains Bob Hill, president of SAWPA. “However, the more difficult part of this accomplishment is being performed by our 70 plus employees. They take extreme pride in reporting, predicting, and eliminating safety concerns in order to remain accident free every single day. Since this new re-accredited certification is for three years, our worksite will be exempt from all programmed Occupational Safety and Health Administration (OSHA) inspections for the same period of time. Safety is always #1 at Solar Atmospheres of Western Pennsylvania!”

Applied Industrial Technologies Acquisitions

16 Acquisitions

Applied Industrial Technologies acquired 16 companies. Their latest acquisition was R.R. Floody Company on August 19, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/19/2021

$99M

Acquired

2

1/5/2021

$99M

Acquired

1

10/7/2020

$99M

Acquired

2

8/14/2019

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$99M

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10

11/5/2018

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$99M

Subscribe to see more

10

Date

8/19/2021

1/5/2021

10/7/2020

8/14/2019

11/5/2018

Investment Stage

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired

Acquired

Acquired

Subscribe to see more

Subscribe to see more

Sources

2

1

2

10

10

Applied Industrial Technologies Team

1 Team Member

Applied Industrial Technologies has 1 team member, including former Chief Commercial Officer, Carl Will.

Name

Work History

Title

Status

Carl Will

Chief Commercial Officer

Former

Name

Carl Will

Work History

Title

Chief Commercial Officer

Status

Former

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