Type Public Number of locations 14 Offices Revenue 3.17 billion USD (2012) | Founded 1955 Area served Worldwide | |
Traded as NYSE: RBC
S&P 400 Component Industry Electric Motors & Controls Stock price RBC (NYSE) US$ 72.85 -0.70 (-0.95%)24 Mar, 4:02 PM GMT-4 - Disclaimer Headquarters Beloit, Wisconsin, United States CEO Mark Joseph Gliebe (2 May 2011–) Subsidiaries Genteq, Benshaw, RBC Horizon, Inc Profiles | ||
Regal Beloit Corporation, usually referred to as Regal, is a manufacturer of electric motors headquartered in Beloit, Wisconsin. The company has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia, with over 23,000 employees. As of year 2014, the company is ranked 713th on the Fortune 1000, and was the 17th largest corporation in Wisconsin.
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.
History
The 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, Wisconsin, 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. In 2004, two acquisitions from General Electric effectively doubled the size of the company.
In July 2007, Regal acquired the Fasco electrical components business of Tecumseh Products for $220 million in cash.
In end of 2007, Regal acquired the Dutchi Motors B. V. for $34 million in cash and $3.2 million in net liabilities.
In April 2010, the company acquired CMG Engineering Group, a manufacturer of industrial motors, blowers and metal products, for $75 million in cash.
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 in order to remain globally competitive. On 5 June 2014, Regal Beloit announced that two plants in Kentucky would face a staged closing over the next 18 months in order to remain globally competitive. This move will affect over 200 employees.
In the latest news, 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.