Motion Industries Announces the Acquisition of Lewis Supply Company.BIRMINGHAM, Ala. -- Motion Industries, Inc., a leading distributor of industrial maintenance, repair, and operation (MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) replacement parts, announced today that effective July 1st the company completed acquisition of Lewis Supply Company, headquartered in Memphis, TN. Lewis Supply's general mill supply product offering includes casters, cutting tools, fluids, machinery accessories, power transmission, material handling, precision measurement and safety products. The company also provides integrated supply capabilities to a segment of its customer base. "This strategic move is a continuation of our expansion plans, and we are pleased to have Lewis Supply join our organization," said Motion President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bill Stevens. Lewis Supply was founded in 1916 by T. Walker Lewis in Helena, Arkansas. The company was later acquired by Setech Corporation in 1997 and grew to its current branch and integrated supply operation, employing 102 people in four facilities: Jackson, TN; Corinth, MS; Madison (Nashville), TN; Memphis, TN, and its integrated supply locations. With 2005 sales of $2.8 billion, Motion Industries is a leading distributor of bearings; mechanical, industrial automation, electrical, pneumatic, and hydraulic power replacement parts; hose and rubber products; and industrial supply products. Motion Industries has more than 460 operations including nine distribution centers throughout North America and serves more than 150,000 customers from the automotive, chemical, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , wood and lumber, iron and steel, pulp and paper, and pharmaceutical industries. Motion Industries is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Genuine Parts Company Genuine Parts Company (NYSE: GPC) is a Fortune 1000 company that was founded in 1928. Based in Georgia and Alabama, the company employees 31,700 people. [1] (NYSE NYSE See: New York Stock Exchange :GPC). Visit our website at www.motionindustries.com. Contact us toll-free at (800) 526-9328. |
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