Regal Beloit Announces Acquisition of RAM Motor Business
BELOIT, Wis., Feb. 8, 2013 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) today announced it has completed the acquisition of the RAM motor business previously owned by Schneider Electric. This business manufactures hermetic motors from 250 hp to 2,500 hp for commercial HVAC applications.
For fiscal 2013, the Ram acquisition is expected to deliver up to $20 million of net revenue with earnings offset by purchase accounting adjustment costs. In 2014, the business is expected to contribute approximately $0.03 of diluted earnings per share. The results will be included in the Electrical segment.
"The RAM business will strengthen our commercial hermetic motor business with complementary products," commented Mark Gliebe, chairman and CEO. "Additionally, RAM has the facilities and capabilities to test and modify larger commercial hermetic motors which will allow us to improve our service and responsiveness to our North American Hermetic motor customers. We welcome the RAM employees and we are excited to have them join the Regal team."
Regal Beloit Corporation is a leading manufacturer of electric motors, mechanical and electrical motion controls and power generation products serving markets throughout the world. Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal Beloit's common stock is a component of the S&P Mid Cap 400 Index and the Russell 2000 Index.
SOURCE Regal Beloit Corporation