Applied Industrial Technologies Acquires Rodamientos y Bandas de la Laguna

Resource from: CBCC Likes:3030

Nov 19,2003

Applied Industrial Technologies (AIT, formerly Bearings Inc., USA) has acquired Rodamientos y Bandas de la Laguna, S.A. de C.V. (Rybalsa, Mexico). Rybalsa, founded in 1985, is a distributor of bearings, power transmission products and hydraulic and industrial hose. The company has five locations -- Chihuahua, Ciudad Juarez, Hermosillo, Cananea and Nacozari -- serving a wide variety of industrial customers across northern Mexico. Privately held by Sr. Sergio Nevarez, Rodamientos y Bandas has annual sales of approximately USD $8 million. The locations will be rebranded to operate under the Applied Mexico name. Todd Barlett, Vice President of Global Business Development, said, The five Rybalsa operations, along with our four facilities in Mexico City, Monterrey, Saltillo and Guadalajara, position us to serve a broad cross-section of the Mexican market efficiently and effectively. Jose Manuel Bonilla, General Director of Applied Mexico, will continue to lead our Mexican organization. Sergio Nevarez will remain with the company as Director of Sales and Operations. Sergio will be responsible for the day-to-day management of all nine locations." Applied Industrial first entered the Mexican market in early 2001 with a facility in Mexico City, jointly operated with a local company, Baleros y Herramientas de Precision. It also established the company's new division, Applied Mexico. Applied Industrial, a major distributor of bearings and power transmission products, now has more then 4,300 employees and 430 facilities across North America. In the most recent fiscal year, the company had sales of almost $1.5 billion.

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