Tecumseh Electrical Sold to Regal Beloit
“This is another important step in our ongoing efforts to reduce the company’s debt, sharpen its strategic focus, and improve its financial performance,” said James Bonsall, Tecumseh’s president and COO. “Regal Beloit Corp., as a worldwide leader in electrical motion control products, will be well positioned to further develop and grow these businesses as part of its overall product portfolio.”
Completion of the transaction, which is subject to regulatory approval by the Federal Trade Commission and other customary closing conditions, is currently expected to occur in the third calendar quarter.
Publication Date: 08/13/2007