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
