APPLIED INDUSTRIAL TECHNOLOGIES INC
For the period ended Jun 30, 2024. Filed Aug 16, 2024.
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FY2024 · Filed Aug 16, 2024
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Item 2.
We believe having a local presence is important to serving our customers, so we maintain service centers and other operations in local markets throughout the countries in which we operate. At June 30, 2024, we owned real properties at 114 locations and leased 424 locations. Certain properties house more than one operation.
The following were our principal owned real properties (each of which has more than 50,000 square feet of floor space) at June 30, 2024:
| Location of Principal OwnedReal Property | Type of Facility |
|---|---|
| Cleveland, Ohio | Corporate headquarters |
| Atlanta, Georgia | Distribution center, service center, hose shop and reducer assembly shop |
| Florence, Kentucky | Distribution center, hose shop and reducer assembly shop |
| Baldwinsville, New York | Fluid power shop |
| Carlisle, Pennsylvania | Distribution center and hose shop |
| Fort Worth, Texas | Distribution center and rubber shop |
Our principal leased real properties (each of which has more than 50,000 square feet of floor space) at June 30, 2024 were:
| Location of Principal LeasedReal Property | Type of Facility |
|---|---|
| Fontana, California | Distribution center, rubber shop, fluid power shop, and service center |
| Newark, California | Fluid power shop |
| Midland, Michigan | Flow control shop |
| Strongsville, Ohio | Offices and warehouse |
| Portland, Oregon | Distribution center, hose shop and reducer assembly shop |
| Stafford, Texas | Offices, warehouse, and flow control shop |
| Longview, Washington | Service center, rubber shop, and fluid power shop |
| Austin, Texas | Fluid power shop |
| Sherwood, Oregon | Automation operation |
| Nisku, Alberta | Offices, service center, shop, and distribution center |
| Saskatoon, Saskatchewan | Distribution center, service center and shop |
The properties in Baldwinsville, Newark, Midland, and Stafford are used in our Engineered Solutions segment. The Fontana and Longview properties are used in both the Service Center Based Distribution segment and the Engineered Solutions segment. The remaining properties are used in the Service Center Based Distribution segment.
We consider our properties generally sufficient to meet our requirements for office space and inventory stocking.
A service center's size is primarily influenced by the amount and types of inventory the service center requires to meet customers' needs.
When opening new operations, we have tended to lease rather than purchase real property. We do not consider any service center, distribution center, or shop property to be material, because we believe that, if it becomes necessary or desirable to relocate an operation, other suitable property could be found.
In addition to operating locations, we own or lease certain properties which in the aggregate are not material and are either for sale, lease, or sublease to third parties due to a relocation or closing. We also may lease or sublease to others unused portions of buildings.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.