Applied Industrial Technologies JV distributes regulated material
Staff -- Purchasing, 4/19/2001 2:00:00 AM
Applied Industrial Technologies and Hall Holdings have formed a joint venture called iSource Performance Materials to distribute regulated performance materials and chemicals requiring special handling and shipping. iSource is a certified minority-owned business.
iSource will be the exclusive distributor of regulated products sold through Applied's 240 service centers in the eastern U.S. Headquartered in Cleveland's Goodrich-Kirtland Park neighborhood, iSource currently employs 17 associates and is managed by company President and CEO Brian Hall.
Products handled by iSource include adhesives, lubricants, greases, cleaners, degreasers, epoxies, and paints—standard specialty products used in virtually every industrial sector. Because these products contain ingredients, such as alcohol, which are regulated by the Department of Transportation, they require special handling, shipping instructions and documentation.
"Bringing HHI and Applied together to form iSource is a logical fit," says Hall. "Applied needed to centralize its shipping and handling of these materials from three different sites, and we had the experience, facility, and state-of-the-art systems for it. Our vision at iSource is to create value through excellence in safety and efficiency.
"We offer an attractive solution for those Applied customers who strive to purchase increased levels of goods and services from minority-owned businesses. Conversely, partnering with Applied raises our visibility with other Fortune 500 companies looking for quality minority suppliers. Applied's senior management quickly recognized the opportunities we bring to each other." Michelin, Ford Motor Co., General Motors, Goodyear, Miller Brewing, Pillsbury and Philip Morris are among the customers being serviced by iSource.
"iSource truly is a win-win for Applied and for HHI," says David Pugh, Applied's chairman and CEO. "With iSource, we are providing improved and valuable regulated materials support for customers through proper labeling, proper packaging, and MSDS [material safety data sheet] information. In addition, we are both committed to the advancement of minority employment and minority business development.
"iSource represents a deepening of Applied's commitment to economic opportunity in Cleveland," says Pugh. "It's a logical extension of our investment in the Midtown neighborhood where we built our new corporate headquarters in 1997."
iSource is a specialty chemical distributor and expert in the shipping and handling of industrial products containing regulated materials, offering more than 2,300 products from 10 manufacturers including Loctite, Dow Corning, Lubriplate and Sherwin-Williams.
With more than 470 facilities across North America, Applied Industrial Technologies offers more than two million parts critical to the operations of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical fabricated rubber and fluid power shop services.
Now Playing: 