Regal Rexnord Corporation is a manufacturer of electric motors and power transmission components headquartered in Milwaukee, Wisconsin. The company has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia, with about 29,000 employees. As of year 2021, the company is ranked 763rd on the Fortune 1000, and was the 17th largest corporation in Wisconsin.[4]
 | |
| Company type | Public |
|---|---|
| Industry | Electric Motors & Controls |
| Predecessors |
|
| Founded | 1955 |
| Headquarters | , U.S. |
Number of locations | 14 Offices |
Area served | Worldwide |
Key people | Louis V. Pinkham (CEO) |
| Products |
|
| Revenue |  US$6.25 billion (2023) |
 US$377 million (2023) | |
| US$−54 million (2023) | |
| Total assets | US$15.4 billion (2023) |
| Total equity | US$6.34 billion (2023) |
Number of employees | c. 32,100 (2023) |
| Subsidiaries |
|
| Website | regalrexnord |
| Footnotes / references [1][2][3] | |
One of the largest electric motor manufacturers in the world, its Genteq brand brushless DC electric motors are found in almost all variable-speed residential HVAC equipment in the United States today, and its GE Commercial Motors, Leeson, and Marathon Electric Motor brands are used throughout the industrial sector.[5]
History
editThe company was founded in 1955 as Beloit Tool Corporation, and began operations in a converted roller rink. In 1961, it moved to facilities in South Beloit, Illinois, and in 1969 it changed its name to Regal Beloit. In the 1980s the company expanded its product line with a series of acquisitions of smaller companies, and in 1991 its headquarters were moved to downtown Beloit. One of Regal's acquisitions was Marathon Special Products, producing terminal blocks, power distribution blocks and fuseholders manufactured in Bowling Green, Ohio, with new products being added regularly in addition to the Kulka brand. In 2004, two acquisitions from General Electric effectively doubled the size of the company.[6]
In July 2007, Regal acquired the Fasco electrical components business of Tecumseh Products for $220 million in cash.[7]
In 2007, Regal Beloit corporation USA acquired Alstom India Motors and Fans business and named as Marathon Electric Motors India Limited.
In October 2008, Regal acquired the Dutchi Motors B. V. for $34 million in cash and $3.2 million in net liabilities.[8]
In April 2010, the company acquired CMG Engineering Group, a manufacturer of industrial motors, blowers and metal products, for $75 million in cash.[9]
In 2011, the company completed the largest acquisition in its history by purchasing A.O. Smith's Electrical Products Company. This acquisition added about $700 million in sales revenues, and further expanded the company in Mexico and China, while adding new products to its production lines.
On 9 July 2013, Regal Beloit announced that its plant in Springfield, Missouri, would face a staged closing over the next 18 months, impacting 330 employees.[10]
On 5 June 2014, Regal Beloit announced that further closing of two plants in Kentucky, a staged closing over the next 18 months that is affecting over 200 employees.
Regal Beloit acquired Power Transmission Solutions business (PTS) from Emerson Electric Co. for approximately $1.4 billion — $1.4 billion in cash plus $40 million of assumed liabilities, effective from Jan 30th, 2015. The business manufactures, sells and services bearings, couplings, gearing, drive components, and conveyor systems under brands including Browning, Jaure, Kop-Flex, McGill, Morse, Rollway, Sealmaster and System Plast. With annual revenues of approximately $600 million, PTS has over 3,000 employees around the world. PTS will become part of Regal's newly defined Power Transmission segment.[11]
In 2019, Regal Beloit America announced it would be closing its Durst Power Transmission plant in Shopiere, WI. The closure started on January 31, 2020, affected approximately 60 employees.[12]
In October 2021, Regal Beloit Corporation completed its merger with Rexnord Corporation, creating Regal Rexnord Corporation.[13][14][15]
In November 2021, Regal Rexnord closes on $297M acquisition of Arrowhead Systems LLC, which has Wisconsin operations in Randolph and Oshkosh.[16]
In March 2023, the company acquired its rival Altra Industrial Motion for about $5 billion including debt.[17]
In September 2023, the company sold its industrial electric motors and generators business of the Marathon, Cemp, and Rotor brands to rival WEG S.A. for $400M.[18]
Marathon Electric Motors (India) Limited
editMarathon Electric Kolkata started its journey as GEC UK, after the European Union was formed GEC of UK and Alsthom of France merged to form GEC Alsthom, then this Company became Alstom. In 2007, Regal Rexnord Corporation of USA acquired Alstom India's Motor & Fan business and was named "Marathon Electric Motors India Limited".
Marathon Kolkata manufactures both LT induction & Large HT induction motors for domestic, commercial & industrial segments. These motors are available as per industry requirements of the safe area and hazardous area applications. Marathon also makes axial, propeller & centrifugal Industrial Fans.
Marathon Electric Motors has the following manufacturing facilities
- Kolkata works for HT & LT motors
- Ahmedabad works for LT motors
Additionally, Marathon India has 2 "global technology centers" one in Hyderabad and another in Pune and one manufacturing facility for FHP & LT motors located in Faridabad
Global Technology Centre - India (GTCI)
editLocated in Hyderabad and Pune, GTCI is Engineering and Info-Tech hub, where Engineering and IT teams operate in collaboration with worldwide Regal Rexnord centers. Hyderabad GTCI Established in August 2005 & Pune GTCI in July 2015. These centers are global R & D support arms for the Regal Rexnord Corporation.
References
edit- ^ "Regal Rexnord Corporation 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 2023-02-26.
- ^ "Regal Beloit Corporation (RBC)". Yahoo! Finance.
- ^ "Regal Beloit". Fortune. Retrieved 2019-02-19.
- ^ "Regal Beloit Corporation Company Information". Hoovers.
- ^ "Regal Rexnord Electric Motors". Regal Rexnord Corporation.
- ^ "Regal Rexnord Corporation - History". Regal Rexnord Corporation. Regal Rexnord Corporation.
- ^ Regal Beloit acquires Fasco
- ^ Gavan, Hillary (2008-10-02). "Regal Beloit acquires Dutchi Motors B.V." Beloit Daily News. Retrieved 2022-01-25.
- ^ Regal Beloit acquires CMG Engineering Group
- ^ Laura Kennedy, "Regal Beloit to Close Springfield Plant; 330 Employees Impacted", OzarksFirst.com, July 9, 2013. Retrieved July 9, 2013.
- ^ "Release note" (PDF).
- ^ "Regal to close Shopiere facility".
- ^ "Zurn Water Solutions Completes Spin-Off". zurnwatersolutions.com. 2021-10-04. Retrieved 2022-03-22.
- ^ "Regal completes merger with Rexnord PMC, creating Regal Rexnord Corporation". electronics360.globalspec.com. 2021-10-07. Retrieved 2021-10-08.
- ^ "Regal to Combine With Rexnord's PMC Segment, Creating World-class Power Transmission Provider". zurnwatersolutions.com. 2021-02-16. Retrieved 2022-02-07.
- ^ "Regal Rexnord closes on $297M acquisition of Arrowhead Systems". www.bizjournals.com. Retrieved 2023-06-15.
- ^ "Regal Rexnord Corporation Completes Acquisition of Altra Industrial Motion Corp". Regal Rexnord. 2023-03-27.
- ^ "Regal Rexnord Corporation Closes The Sale Of Its Industrial Motors & Generators Business To WEG". www.prnewswire.com. 2024-04-30. Retrieved 2024-09-10.