Regal Rexnord
#1581
Rank
$11.17B
Marketcap
United States
Country
Mr. Louis Vernon Pinkham (CEO & Director)
Mr. Robert J. Rehard (VP & CFO)
Mr. Thomas E. Valentyn (VP, Gen. Counsel & Sec.)
Summary
History
The company was founded in 1955 as Beloit Tool Corporation, and began operations in a converted roller rink. In 1961, it moved to facilities in South Beloit, Illinois, and in 1969 it changed its name to Regal Beloit. In the 1980s the company expanded its product line with a series of acquisitions of smaller companies, and in 1991 its headquarters were moved to downtown Beloit. One of Regal's acquisitions was Marathon Special Products, producing terminal blocks, power distribution blocks and fuseholders manufactured in Bowling Green, Ohio, with new products being added regularly in addition to the Kulka brand. In 2004, two acquisitions from General Electric effectively doubled the size of the company.In July 2007, Regal acquired the Fasco electrical components business of Tecumseh Products for $220 million in cash.In 2007, Regal Beloit corporation USA acquired Alstom India Motors and Fans business and named as Marathon Electric Motors India Limited.
In October 2008, Regal acquired the Dutchi Motors B. V. for $34 million in cash and $3.2 million in net liabilities.In April 2010, the company acquired CMG Engineering Group, a manufacturer of industrial motors, blowers and metal products, for $75 million in cash.In 2011, the company completed the largest acquisition in its history by purchasing A.O. Smith's Electrical Products Company. This acquisition added about $700 million in sales revenues, and further expanded the company in Mexico and China, while adding new products to its production lines.
On 9 July 2013, Regal Beloit announced that its plant in Springfield, Missouri, would face a staged closing over the next 18 months, impacting 330 employees.On 5 June 2014, Regal Beloit announced that further closing of two plants in Kentucky, a staged closing over the next 18 months that is affecting over 200 employees.
Regal Beloit acquired Power Transmission Solutions business from Emerson Electric Co. for approximately $1.4 billion — $1.4 billion in cash plus $40 million of assumed liabilities, effective from Jan 30th, 2015. The business manufactures, sells and services bearings, couplings, gearing, drive components, and conveyor systems under brands including Browning, Jaure, Kop-Flex, McGill, Morse, Rollway, Sealmaster and System Plast. With annual revenues of approximately $600 million, PTS has over 3,000 employees around the world. PTS will become part of Regal's newly defined Power Transmission segment.In 2019, Regal Beloit America announced it would be closing its Durst Power Transmission plant in Shopiere, WI. The closure started on January 31, 2020, affected approximately 60 employees.In October 2021, Regal Beloit Corporation completed its merger with Rexnord Corporation, creating Regal Rexnord Corporation.In November 2021, Regal Rexnord closes on $297M acquisition of Arrowhead Systems LLC, which has Wisconsin operations in Randolph and Oshkosh.In October 2022, the company announced its intent to buy its rival Altra Industrial Motion for about $5 billion including debt.
Mission
Vision
Key Team
Mr. Jerrald R. Morton (Pres of Integration - Motion Control Solutions)
Mr. Robert Douglas Barry (VP of Investor Relations)
Mr. John M. Avampato (VP & Chief Information Officer)
Ms. Cheryl A. Lewis (VP & Chief Human Resource Officer)
Mr. Eric S. McGinnis (Group Pres of Industrial System Segment)
Mr. Kevin J. Zaba (Pres of Motion Control Solutions)
Mr. Scott Douglas Brown (Group Pres of Commercial Systems Segment)
Recognition and Awards
References
https://en.wikipedia.org/wiki/Regal_Rexnord_Corporation
https://in.investing.com/equities/regal-beloit-corp
https://finance.yahoo.com/quote/RRX/profile?p=RRX
https://www.comparably.com/companies/rexnord-corporation/mission
https://www.crunchbase.com/organization/regal-rexnord
https://sec.report/CIK/0000082811
Mr. Louis Vernon Pinkham (CEO & Director)
Mr. Robert J. Rehard (VP & CFO)
Mr. Thomas E. Valentyn (VP, Gen. Counsel & Sec.)