Applied Industrial Technologies CEO Neil A. Schrimsher said the acquisition will help extend and enhance the company's automation offering "by providing next-generation automation solutions through emerging technologies and specialized engineering services."
Schrimsher also noted the deal expands the company's geographic reach. "Their strong Southeast presence brings established customer relationships and supplier partnerships, plus an experienced team with valuable capabilities including state-of-the-art automation training and machine vision engineering expertise," he said.
Price: 57.57, Change: +0.24, Percent Change: +0.42
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