HVAC Breaking News

Nov. 23, 2004: Regal-Beloit To Acquire GE's HVACR Motors, Capacitors Operations

BELOIT, Wis. - Regal-Beloit Corp. announced that it has signed a definitive agreement with General Electric Co. under which Regal-Beloit will acquire the HVACR motors and capacitors operations of GE Consumer and Industrial. GE's HVACR motors and capacitors operations include a line of motors for residential HVAC applications and capacitors for HVAC and high intensity lighting applications.

The transaction is valued at approximately $379 million and is expected to close by the end of December, subject to the satisfaction of customary conditions and the receipt of required regulatory approvals. Regal-Beloit expects the acquisition and related financing to add approximately $.32 to $.34 to 2005 diluted earnings per share after giving effect to an estimated $.20 per share of one-time costs related to integration activities and acquisition accounting.

James L. Packard, CEO and chairman of Regal-Beloit, stated, "We are tremendously excited to announce this acquisition. The acquisition of GE's HVAC/Refrigeration motor and capacitor operations is another significant step in our strategy to expand our end markets and product offering. Additionally, the acquisition adds four outstanding facilities to our manufacturing footprint and continues our strategy to expand our manufacturing capabilities on a global basis. We are also excited about the potential for the leading edge ECM technology that is a part of this transaction."

The HVACR motors and capacitors operations are based in Fort Wayne, Ind. Included in the sale are motor manufacturing facilities in Springfield, Mo., Reynosa, Mexico, and Faridabad, India, and a capacitor manufacturing facility in Juarez, Mexico. The business also has technology resources located in Hyderabad, India. Regal-Beloit expects the acquired business to add approximately $520 million in sales in 2005.

The purchase price for the acquisition will be paid through a combination of cash and equity.

Publication date: 11/22/2004

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2015 ACCA Conference

Images from the 2015 ACCA Conference in Grapevine, Texas. Posted on April 8, 2015.


NEWSMakers: Clint Schreck

Clint Schreck, general manager, Columbus Worthington Air, Columbus, Ohio, discusses winning Angie’s List Super Service Award, how to handle online reviews, and much more.

More Podcasts


NEWS 05-18-15 cover

2015 May 18

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Legislation and Regulation

What legislative/regulatory issue is most important to you as a HVAC business owner?
View Results Poll Archive


2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con