The acquisition comes roughly a year after the merger between Regal Beloit and Rexnord Corp.
Latest In Regal Beloit
Blockbuster deal involves Rexnord performing a tax-free spin-off of PMC to its shareholders and then immediately combining it with Regal in a Reverse Morris Trust transaction.
Workers at the manufacturing operation have been on strike since June 30.
Profit up 46.4% compared to the same period the previous year.
Manufacturer says it will sell its highly engineered drives and controls systems business to an affiliate of Sun Capital Partners.
Chairman and CEO Mark J. Gliebe to retire at the end of 2018; company has begun search for successor.
Year-to-date sales up 11.6 percent year-over-year.
Manufacturer reports increases across all business segments.
Year-to-date sales down 10.6 percent year-over-year.
Profit increased 12.7 percent year-over-year.
Fourth quarter sales flat year-over-year.
Year-to-date sales up 10.3 percent year-over-year.
Fourth quarter sales increased 6.6 percent year-over-year.
Company CEO: Purchase will strengthen Regal Beloit's global footprint.
Electrical sales up 7.5 percent in third quarter.
Electrical sales up 3.6 percent in first quarter.
Strong HVAC sales helps Regal Beloit offset weak commercial, industrial motor sales.
Regal Beloit acquires vapor recovery company.
Electrical and Mechanical sales both declined.
