Regal Beloit Corporation, Beloit, WI, has agreed to buy the electric motor and blower businesses of Tecumseh Products Company. Regal Beloit will acquire the assets of the FASCO Residential/Commercial operations and the stock of the FASCO Asia/Pacific operations of Tecumseh (FASCO). Tecumseh’s FASCO Automotive/Specialty business is not part of this transaction.
The FASCO businesses that Regal Beloit is acquiring manufacture and market motors and blower systems for air moving applications including alternative fuels systems, water heaters and HVAC systems. Regal Beloit expects the acquired businesses to add $290 million of sales in 2008.
The transaction is valued at $220 million in cash.
Regal Beloit is a manufacturer of mechanical and electrical motion control and power generation products serving markets throughout the world. Regal Beloit has manufacturing, sales, and service facilities throughout the U.S., Canada, Mexico, Europe and Asia.