Home » Baldor to buy Rockwell’s Reliance Electric for $1.8B
Baldor to buy Rockwell’s Reliance Electric for $1.8B
Baldor, a Fort Smith, Ark.-based manufacturer of industrial electric motors, drives and generators, has agreed to pay $1.75 billion in cash and about 1.6 million shares of Baldor common stock for Reliance Electric in order to expand into transmission products and larger motors, the company said. The purchase also gives Baldor a manufacturing base in China.
Last June, Milwaukee-based Rockwell Automation announced its intention to explore the sale of the Dodge Reliance Electric motors and businesses, which operates as Rockwell's Power Systems segment, to focus its efforts on faster-growing electronic and software products.
Baldor reportedly might sell the electric motor repair business it's buying from Rockwell, executives said on a conference call. Rockwell CEO Keith Nosbusch says the sale expands his company's effort to move toward specialized industrial products such as factory-control software and away from commodity equipment.
A webcast and slide presentation describing details of the transaction are available on Baldor’s website at www.baldor.com/investors/presentations.asp in the investor relations’ news and events section.
ProComSol Distributes PowerXpress HART Power Solution
ProComSol Announces It Now Distributes PowerXpress HART Calibration Power Solution
West Texas Investigation Hampered by Inter-Agency Cat Fight
ATF and CSB in dispute about access to plant, witnesses, evidence.
News You Might Have Missed This Week from ControlGlobal and Elsewhere
Our Recap of Stories, Events and Ideas Floating Around the Internet Now
Fieldbus Foundation Launches Project Gemstone
New initiative is designed to make the fieldbus experience easier, more application-centered.
Pressure Sensors Monitor Remote Field Safety Trailers
AST Pressure sensors are used to monitor Nomadic safety trailers in the field in remote oil field locations.
Great Moments in Process Automation History
Take a broken soda fountain machine, a car a.c. unit, flavor mixes, water and CO2, add inventiveness; you get America’s favorite frozen drink.
Smart Grid: Independent Testing Of Rossi's E-Cat Cold Fusion Device Shows Positive Results
Forbes magazine's tech contributor Mark Gibbs writes that independent testing of Andrea Rossi's E-CAT Cold Fusion Reactor has positive results.The implications of the possible commercialization of cold fusion power sources are incredible.
Compressor Controls: Saudi Aramco Buys First GE Compressor Control Systems
Saudi Aramco has purchased advanced compressor control technology from GE for the Haradh GOSP-1 facility in Saudi Arabia's Eastern Province.
SANS Control Security Training Coming to Houston
SANS Institute will hold ICS Security Training event on June 10-15 in Houston
ISA Training Through June in Houston
Technician training, engineering survival and SIS boot camps for condensed, intense, comprehensive educational experience.
- All news »
Access the entire print issue on-line and be notified each month via e-mail when your new issue is ready for you. Subscribe today.
- Featured White Papers