RBC Bearings completes Dodge acquisition
RBC Bearings has completed its previously announced acquisition of the Dodge mechanical power transmission division of Asea Brown Boveri Ltd for approximately $2.9 billion in cash subject to post closing working capital adjustments.
“We are excited to welcome our Dodge teammates to the RBC Bearings’ family," said Dr. Michael J. Hartnett, RBC Bearings chairman and chief executive officer. "The closing of this transaction is the first step to realizing the great benefits of this combination. I want to thank the teams at RBC Bearings, Dodge and ABB for their incredible efforts to complete the transaction and their pursuit of a smooth, swift integration that will allow us to begin benefitting from the strengths of the combined company.”
RBC Bearings, together with Dodge, creates a manufacturer with strong brand recognition for premium performance-critical bearings, components and motion control products for the industrial, aerospace and defense markets.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
