BELOIT, Wisconsin, October 5, 2021 – Regal Beloit Corporation, a global leader in the engineering and manufacturing of electric motors and drives, power generation products and power transmission components, today announced that it has completed the merger with Rexnord Process and Motion Control (PMC) to become Regal Rexnord Corporation (NYSE: RRX).
The new company name signifies bringing together the complementary strengths of two strong companies and highlights their now common future as a leader in the engineering and manufacturing of power transmission solutions and high efficiency motors and electrical systems. .
The new company will consist of four distinct business segments: Motion Control Solutions, Climate Solutions, Commercial Systems and Industrial Systems. Together these enable airflow and HVAC solutions that keep people comfortable; agricultural and catering equipment that feeds the world; the mining and manufacturing operations that move the world forward; and delivery solutions that help keep e-commerce flowing.
The combination of these two companies creates an expanded product line to serve customers across the industrial powertrain. This new portfolio includes reputable brands from Regal and Rexnord PMC, including the brands Regal’s Browning, Grove Gear, Hub City, Jaure, Kop-Flex, McGill, ModSort, Sealmaster and System Plast, as well as the brands PMC Berg, Cambridge, Centa, The Falk, Rexnord and Stearns brands, among others.
In addition to more robust solutions across the industrial powertrain, Regal Rexnord will have the opportunity to provide customers with world-class industrial Internet of Things (IIoT) and digital solutions by leveraging the combined capabilities of Perceptiv â¢ from Regal and Rexnord’s DiRXN.Â® digital platforms. By integrating hardware, software and human equipment, Regal Rexnord will be well positioned to deliver the best solutions optimized for reliability, performance and efficiency.
In an era of limited global supply chains, the combined company will leverage manufacturing facilities on all five continents to help increase product reliability, quality, response time and availability.
Louis Pinkham, CEO of Regal Rexnord, commented: âFor more than 125 years, Regal has consistently provided our customers with reliable, high quality powertrain products and solutions. Today, with the addition of Rexnord PMC, we are taking a significant positive step forward in Regal’s ongoing transformation, positioning the new Regal Rexnord company to create meaningful value for all of our customers. We will provide more rugged industrial powertrain solutions, comprised of our engines and critical power transmission components, to enable our customers a range of efficiency and productivity gains. By providing more energy efficient solutions, developed with greater intention, especially when it comes to leveraging the voice of the customer, Regal Rexnord is also now in a better position to fulfill our business goal of creating a future. best by energy-efficient converting electricity in motion. ”
To learn more about the Regal Rexnord merger, visit www.regalrexnord.com/ regal-rexnord-integration.
About the company
Regal Rexnord (NYSE: RRX) is a global leader in the engineering and manufacturing of electric motors and drives, power generation products and power transmission components, serving customers worldwide. We are creating a better future by responsibly developing and producing energy efficient products and systems.
Our company is made up of four operating segments: Motion Control Solutions, Climate Solutions, Business Systems and Industrial Systems. Regal Rexnord, with over $ 4 billion in 2020 revenue and 29,000 associates, is headquartered in Beloit, Wisconsin, and has manufacturing, sales and service facilities around the world. For more information visit www.regalrexnord.com.
This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which reflect Regal Rexnord’s current estimates, expectations and projections regarding the future results, performance, prospects and opportunities of Regal Rexnord.