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The company was founded by Harold Frank in 1957 in Goleta, California. [2]Frank served in WWII as a radio operator and Morse code specialist. After the war, he earned a Bachelor of Science degree in electrical engineering from Washington State University in 1948. [3]
In 1997, the Company changed its name to Applied Industrial Technologies to more accurately reflect its diversified product lines, and is currently traded on the New York Stock Exchange with the symbol AIT. From the 1950s through the early 1990s, the Company targeted U.S. expansion with small and mid-size acquisitions.
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Magnetostriction is a property of magnetic materials that causes them to change their shape or dimensions during the process of magnetization.The variation of materials' magnetization due to the applied magnetic field changes the magnetostrictive strain until reaching its saturation value, λ.