BELOIT, Wis., June 10, 2011 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC) today announced that the Company has
acquired the Australian Fan and Motor Company (AFMC) headquartered
in Melbourne, Australia.
AFMC manufactures and distributes a wide range of direct drive
blowers, fan decks, axial fans and sub fractional motors for sales
in Australia and New Zealand. For the remainder of 2011,
the business is expected to add approximately $6.0 million to sales.
According to Mark J. Gliebe, CEO
of Regal Beloit, "We are excited to announce the acquisition of
AFMC. AFMC combined with our Fasco Australia and CMG
businesses allows us to offer a more complete solution to our South
Pacific customers by combining high efficiency motors and
blowers."
About REGAL BELOIT CORPORATION:
Regal Beloit Corporation is a leading manufacturer of electric
motors, mechanical and electrical motion controls and power
generation products serving markets throughout the world.
Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing,
sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal Beloit's common stock is a
component of the S&P Mid Cap 400 Index and the Russell 2000
Index.
CAUTIONARY STATEMENT
The following is a cautionary statement made under the Private
Securities Litigation Reform Act of 1995: With the exception of
historical facts, the statements contained in this press release
may be forward looking statements. Forward-looking statements
represent our management's judgment regarding future events.
We cannot guarantee the accuracy of the forward-looking
statements, and you should be aware that results and events could
differ materially and adversely from those contained in the
forward-looking statements due to a number of factors, including:
unexpected issues and costs arising from the closing of the
transaction and the integration of acquired companies and
businesses and marketplace acceptance of these and other
recent acquisitions, including the loss of, or a decline in
business from, any significant customers of Regal Beloit or the
acquired businesses. All subsequent written and oral
forward-looking statements attributable to us or to persons acting
on our behalf are expressly qualified in their entirety by the
applicable cautionary statements. The forward-looking
statements included in this press release are made only as of the
date of this release, and we undertake no obligation to update
these statements to reflect subsequent events or circumstances.
SOURCE Regal Beloit Corporation