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Regal Beloit Corporation (symbol: RBC) is a prominent international manufacturer and marketer of highly engineered precision plain, roller, and ball bearings. The company caters to specialized markets that demand sophisticated design, testing, and manufacturing capabilities. By focusing on these niche areas, Regal Beloit has carved out a leading position in many of the product markets in which it competes.
Operating globally, Regal Beloit serves a diverse customer base, including the industrial, aerospace, and defense sectors. The company is renowned for its unique design solutions, exceptional quality, and unparalleled level of service and support.
Recent Achievements:
- Expansion of manufacturing facilities to enhance production capacity and meet growing demand.
- Introduction of advanced bearing products tailored for high-performance applications.
- Partnerships with leading aerospace and defense companies to develop cutting-edge solutions.
Current Projects:
- Development of next-generation bearings with improved durability and efficiency.
- Collaboration with research institutions to innovate and stay ahead in the market.
Financially, Regal Beloit continues to demonstrate strong performance with steady revenue growth and robust financial health. The company's strategic initiatives and operational excellence have positioned it as a trusted partner in the industries it serves.
Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) announced the anticipated completion of their merger on October 4, 2021, via a Reverse Morris Trust transaction. Post-merger, Regal will be rebranded as Regal Rexnord Corporation trading under the symbol RRX, while Rexnord will become Zurn Water Solutions Corporation trading under ZWS. Both companies aim to enhance their operational efficiencies and market positions through this strategic alliance. Further details will be provided in the coming weeks.
On September 1, 2021, Regal Beloit Corporation (NYSE: RBC) announced that shareholders approved the issuance of shares for its merger with Rexnord Corporation's Process & Motion Control (PMC) business in a Reverse Morris Trust transaction. The merger aims to create significant value for stakeholders and is set to finalize early in Q4 2021. Additionally, shareholders approved a name change to Regal Rexnord Corporation and an increase in authorized shares, reflecting the integration of both companies' strengths in engineering power transmission solutions and electric motors.
Rexnord Corporation (NYSE: RXN) announced that stockholders have approved the merger of its Process & Motion Control (PMC) Business with Regal Beloit Corporation (NYSE: RBC) in a Reverse Morris Trust transaction. This decision, revealed at a special meeting of stockholders, aims to enhance scale and create growth opportunities. CEO Todd Adams emphasized the transaction's potential for value creation alongside Rexnord's Water Management segment. The merger's completion is anticipated in early Q4 2021, pending closing conditions.
Regal Beloit Corporation (NYSE: RBC) announced plans to rename its power transmission business to Motion Control Solutions (MCS) following its merger with Rexnord Corporation's Process & Motion Control segment. Kevin J. Zaba, President of PMC, will lead MCS, with Jerry Morton as President, Integration. CEO Louis V. Pinkham expressed confidence in leveraging combined capabilities for growth and integration success. The merger aims to enhance product offerings and operational efficiencies.
Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) announced the receipt of a private letter ruling (PLR) from the IRS regarding their merger through a Reverse Morris Trust transaction. This ruling is deemed a crucial milestone in merging Rexnord's Process & Motion Control business with Regal, positioning them as a leading provider of Industrial Powertrain solutions. Shareholder votes are scheduled for September 1st, with a potential closing by early Q4 2021. Current reports will provide further details on the transaction's implications.
Regal Beloit Corporation (NYSE: RBC) announced the planned appointment of Theodore D. Crandall and Robin A. Walker-Lee to its Board of Directors, contingent upon the merger with Rexnord Corporation's Process & Motion Control segment (PMC). The merger is expected to close in the second half of 2021. Crandall brings extensive financial experience from Rockwell Automation, while Walker-Lee offers significant legal and global business expertise. Their appointments aim to enhance board diversity and support the integration of Regal and Rexnord PMC.
Regal Beloit Corporation (NYSE: RBC) reported significant financial growth in Q2 2021, with a sales increase of 40% YOY and a record adjusted operating margin of 14.0%, up 460 bps from the prior year. Adjusted diluted EPS reached $2.28, a 140% YOY increase. Daily orders rose 57% in Q2, tracking mid-20's in July. The company anticipates an adjusted EPS range of $8.70 to $9.00 for 2021. The merger with Rexnord PMC remains on track for Q3 2021, expected to yield over $1 billion in adjusted EBITDA by 2022.
Regal Beloit Corporation (NYSE: RBC) announced a dividend of $0.33 per share, declared on July 26, 2021, during the Board of Directors' quarterly meeting. The dividend is set for payment on October 15, 2021, to shareholders of record by October 1, 2021. Regal has consistently paid dividends since January 1961. As a leader in manufacturing electric motors and controls, Regal aims to develop energy-efficient products and solutions across its four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions.
Regal Beloit Corporation (NYSE: RBC) announces a new tiered offering of Perceptiv sensors, software, and services to enhance its IoT solutions. This range includes four product classes tailored for varying asset monitoring needs, from entry-level asset management to advanced Expert Class sensors. Customers can also select from three service tiers: Basic, Standard, and Premium, which include features like AI diagnostics and remote support. This initiative aims to simplify customer experience and improve equipment reliability, ultimately enhancing profitability across multiple industries.
Regal Beloit Corporation (NYSE: RBC) will release its second quarter 2021 financial results on July 28, 2021, after market close. A conference call is scheduled for 9:00 am CST on July 29, 2021, to discuss these results. Interested parties can listen live via the Regal Investors website or by phone. A replay of the webcast and telephone call will be available for three months post the event. Regal Beloit specializes in electric motors, power generation solutions, and energy-efficient systems.
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