BELOIT, Wis., Nov. 19, 2013 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC) today announced it has closed on the
acquisition of Cemp, s.r.l., a European manufacturer of hazardous
duty motors primarily for oil and gas and marine
applications.
For 2014 and 2015, Cemp is anticipated to be accretive to
earnings per share by $0.03 to $0.05
and $0.06 to $0.08,
respectively. Regal's fourth quarter 2013 earnings guidance
provided in an earlier earnings release did not include the
anticipated results of this acquisition. Cemp is
expected to be $0.01 to $0.02
dilutive to fourth quarter earnings per share including purchase
accounting adjustments and transaction costs.
Management provided a discussion of the Cemp acquisition during
its third quarter 2013 earnings call on October 29, 2013. A telephone replay of the
call will be available through January 29,
2014, at 877-344-7529, conference ID 10034719. International
callers should call 412-317-0088 using the same conference ID. A
webcast replay will be available until January 29, 2014, and can be accessed at
http://investors.regalbeloit.com/phoenix.zhtml?c=116222&p=irol-calendarPast
or at http://www.videonewswire.com/event.asp?id=96311.
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.
In many cases, you can identify forward-looking statements by
terminology such as "may," "will," "plan," "expect,"
"anticipate," "estimate," "believe," or "continue" or the negative
of these terms or other similar words. Actual results and
events could differ materially and adversely from those contained
in the forward-looking statements due to a number of factors,
including issues and costs arising from the integration of the Cemp
business, including the timing and impact of purchase accounting
adjustments; economic changes in global markets where we do
business, such as reduced demand for the products we sell, currency
exchange rates, inflation rates, interest rates, recession, foreign
government policies and other external factors that we cannot
control; unanticipated liabilities of Cemp; our ability to realize
potential synergy targets; and other risks and uncertainties
including but not limited to those described in Item 1A-Risk
Factors of the Company's Annual Report on Form 10-K(A) filed on
March 26, 2013 and from time to
time in our reports filed with U.S. Securities and Exchange
Commission. 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 presentation are made only as of their respective
dates, and we undertake no obligation to update these statements to
reflect subsequent events or circumstances.
SOURCE Regal Beloit Corporation