Applied Power completes acquisition of Hormann Security Systems Limited.

MILWAUKEE--(BUSINESS WIRE)--June 6, 1997--Applied Power Inc. (NYSE:APW) reported today that it has completed the previously announced acquisition of the stock of Hormann Security Systems Limited ("Hormann") for a purchase price of approximately $10 million.

Hormann, headquartered in Cork, Ireland, assembles electronic equipment for a variety of customers and has total annual sales of approximately $30 million. The company will be integrated into Applied Power's Technical Environments and Enclosures segment ("TEE").

Philip T. Burkart, President of TEE, commented, "We are buying Hormann to bring electro-mechanical assembly and test skills into TEE, which we need to do complete box-builds for a number of existing customers who currently buy enclosures from us. This acquisition enhances and strengthens our electronic enclosure strategy."

Applied Power is a global company comprised of three business segments. Technical Environments and Enclosures expertise is in configuring technical equipment for end users and in providing enclosures for electronic equipment. Engineered Solutions supplies components and systems based on hydraulic and vibration control technologies to a diverse group of OEM customers. Distributed Products provides industrial and electrical tools and consumables through various distributor and retail channels worldwide.

CONTACT: Applied Power Inc., Milwaukee

Robert C. Arzbaecher, 414/781-6600