Regal Rexnord Sells Industrial Motors, Generators Businesses For $400 Million
25 Settembre 2023 - 12:46PM
Dow Jones News
By Chris Wack
Regal Rexnord is selling its Industrial Motors and Generators
businesses to WEG, through certain subsidiaries of WEG S.A., for
total consideration of $400 million.
The closing of the transaction is expected to occur in the first
half of 2024.
"The sale of our Industrial Motors and Generators businesses is
consistent with our strategy of focusing the portfolio on products,
sub-systems, end markets and/or applications where we can achieve
GDP-plus growth rates and gross margins above 35%," said Regal
Rexnord Chief Executive Louis Pinkham. "While we have made
significant progress improving the growth prospects and margins at
these businesses, we believe that WEG is in a better position to
accelerate their performance going forward."
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 25, 2023 06:31 ET (10:31 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Grafico Azioni Regal Rexnord (NYSE:RRX)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Regal Rexnord (NYSE:RRX)
Storico
Da Giu 2023 a Giu 2024