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PrimeTech, Inc. Continues Growth Strategy Acquiring Dynamic Technology

31 March 2000

PrimeTech, Inc. Continues Growth Strategy Acquiring Dynamic Technology

    INDIANAPOLIS--March 30, 2000--PrimeTech is pleased to announce the acquisition of Dynamic Technology Inc, a Dayton, Ohio, based fluid power distributor with five offices located in Ohio and Kentucky. PrimeTech, a rapidly growing fluid power distribution company currently employs over 200 people in offices throughout the Midwest and the West Coast. This acquisition is a significant step toward meeting the company's growth objectives of becoming the industry leader in the distribution of premier industrial products and services.
    With the addition of Dynamic Technology, PrimeTech strategically becomes one of the largest privately held distributors of fluid power products. John Taylor, CEO of PrimeTech, commenting on the acquisition stated, "We are pleased and excited to continue our growth strategy with the acquisition of such a top notch company as Dynamic Technology. The company offers a perfect complimentary base of customers and vendors to strengthen PrimeTech's market share. We have strategically positioned ourselves as the premier distributor of Pall Industrial Hydraulics, Bosch, and SMC products. The industrial markets that we serve have been undergoing tremendous change and the combined companies provide the proper leadership and talent to take advantage of the opportunities that these changes bring. We want to continue to be an aggressive high growth company and the preferred employer and supplier to the markets we serve."
    PrimeTech, Inc., headquartered in Indianapolis, Indiana, is a rapidly growing fluid power company involved in the wholesale distribution of hydraulic and pneumatic components to industrial and manufacturing concerns in North America. Its engineering, fabrication and service capabilities, technical support and commitment to superior customer service are the contributing factors that have created the solid relationships with the fluid power manufacturers it represents and the customer it serves. Focusing on the forest products, aerospace, automotive, food processing, entertainment, and pulp and paper industries, sales for fiscal year 2000 are reported to be in excess of 75 million.