Park-Ohio's ILS Changes Name To Supply Technologies
Cleveland, OHIO, November 19, 2007 -
Park-Ohio Holdings Corp.
(NASDAQ: PKOH) today announced that its Integrated Logistics
Solutions LLC company (ILS), has changed its name to Supply
Technologies LLC. The company's business units Columbia Nut
& Bolt, NABS, and Direct Fasteners Ltd will also operate
under the Supply Technologies name.
The name change is the next phase in a strategic business
plan that has consistently achieved increased revenue and
global growth.
"This is an important moment in the development of our
company," explained Edward F. Crawford, Park-Ohio Chairman
and Chief Executive Officer. “In the past decade, we have
expanded our capabilities and services dramatically. This
change reflects the continuing evolution of our global
supply chain in response to the needs of our internationally
based Fortune 500 customers."
"Our philosophy of Total Supply Management is a
commitment to making our customers more efficient and
guarantying the reduction of the total cost of procurement. Our new name
better reflects our breadth of services, and unerring focus
in driving efficiencies throughout the total supply
management process," added Andrew A. Arena, President of Supply
Technologies.
With revenues in excess of $600 million and more than 1,500
employees located at over 50 global facilities, Supply
Technologies supplies billions of parts and materials to the
world's most demanding manufacturers every year, and is the
only company that continuously aggregates cross-industry
best practices, from point-of-origin to point-of-use, into
customized programs that suit any customer need.
Park-Ohio is a leading provider of supply chain
services and a manufacturer of highly engineered products.
Headquartered in Cleveland, Ohio, the Company operates 24
manufacturing sites and 53 supply chain service
facilities.
ILS Announces Acquisition of NABS, Inc.
October 18, 2006 - Cleveland, OH - Integrated Logistics Solutions, a subsidiary of Park-Ohio (NASDAQ: PKOH), announced that it has acquired all of the outstanding capital stock of NABS, Inc. (NABS), headquartered in New York City with annual revenues of approximately $45 million. NABS is a premier international supply chain manager of production components providing services to high technology companies in the computer, electronics, and consumer products industries. NABS has 14 international and 5 domestic locations.
Park-Ohio Chairman and Chief Executive Officer Edward F. Crawford said, "The NABS acquisition will fast forward our supply chain management business worldwide. The combination of a world-class management team and the addition of a blue chip customer base will dramatically accelerate ILS' long term international strategy."
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