BELOIT, Wis., Feb. 7, 2014 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC) today announced it has acquired Hy-Bon
Engineering Company, Inc. (Hy-Bon), a leader in vapor recovery
solutions for oil and gas applications.
"We're very excited to welcome Hy-Bon to
the Regal family. With revenues of approximately $57 million, Hy-Bon will be a nice strategic
addition to our existing Unico business, allowing us to further
grow both businesses with a stronger combined sales and service
infrastructure," stated Mark
Gliebe, Chairman and CEO.
For 2014 and 2015, Hy-Bon is anticipated to be accretive to
earnings per share by $0.03 to $0.06
and $0.08 to $0.12, respectively. Management will
provide further discussion of the Hy-Bon acquisition during its
previously scheduled conference call to discuss the fourth quarter
and full year 2013 earnings release at 9:00
AM CST (10:00 AM EST) on
Tuesday, February 11, 2014.
Individuals who would like to participate by phone should dial
888-317-6003 and enter pin number 6649148 when prompted.
International callers should dial 412-317-6061 and enter pin number
6649148 when prompted. To view the presentation during the
call, please follow this link to Regal's Investors page:
http://investors.regalbeloit.com/phoenix.zhtml?c=116222&p=irol-presentations.
To listen to the live audio and view the presentation via the
internet, please go to:
http://www.videonewswire.com/event.asp?id=97525.
A telephone replay of the call will be available through
May 12, 2014, at 877-344-7529,
conference ID 10038737. International callers should call
412-317-0088 using the same conference ID. A webcast replay
will be available until May 12, 2014,
and can be accessed at
http://investors.regalbeloit.com/phoenix.zhtml?c=116222&p=irol-calendarPast
or at http://www.videonewswire.com/event.asp?id=97525.
CAUTIONARY STATEMENT
The following is a cautionary statement made under the Private
Securities Litigation Reform Act of 1995: With the exception of
historical facts, the statements contained in this press release
may be forward looking statements. Forward-looking statements
represent our management's judgment regarding future events.
In many cases, you can identify forward-looking statements by
terminology such as "may," "will," "plan," "expect,"
"anticipate," "estimate," "believe," or "continue" or the negative
of these terms or other similar words. Actual results and
events could differ materially and adversely from those contained
in the forward-looking statements due to a number of factors,
including issues and costs arising from the integration of the
Hy-Bon business, including the timing and impact of purchase
accounting adjustments; economic changes in global markets where we
do business, such as reduced demand for the products we sell,
currency exchange rates, inflation rates, interest rates,
recession, foreign government policies and other external factors
that we cannot control; unanticipated liabilities of Hy-Bon; our
ability to realize potential synergy targets; and other risks and
uncertainties including but not limited to those described in Item
1A-Risk Factors of the Company's Annual Report on Form 10-K(A)
filed on March 26, 2013 and
from time to time in our reports filed with U.S. Securities and
Exchange Commission. All subsequent written and oral
forward-looking statements attributable to us or to persons acting
on our behalf are expressly qualified in their entirety by the
applicable cautionary statements. The forward-looking
statements included in this presentation are made only as of their
respective dates, and we undertake no obligation to update these
statements to reflect subsequent events or circumstances.
Regal Beloit Corporation is a leading manufacturer of electric
motors, mechanical and electrical motion controls and power
generation products serving markets throughout the world.
Regal Beloit is headquartered in Beloit,
Wisconsin, and has manufacturing, sales and service
facilities throughout the United
States, Canada,
Mexico, Europe and Asia. Regal Beloit's common
stock is a component of the S&P Mid Cap 400 Index and the
Russell 2000 Index.
SOURCE Regal Beloit Corporation