Expands into Adjacent Flexible Couplings Category;
Adds
Approximately $100 Million of Revenue
MILWAUKEE--(BUSINESS WIRE)--Jan. 8, 2018--
Rexnord Corporation (NYSE: RXN) announced today that it has entered into
a definitive agreement to acquire Centa Power Transmission (Centa
Antriebe Kirschey GmbH), a leading manufacturer of premium flexible
couplings and drive shafts for industrial, marine, rail and power
generation applications. Subject to customary closing conditions, the
transaction is expected to close by the end of February.
“Centa is a business that we have long thought would be an outstanding
fit with Rexnord and we are very excited to come to an agreement to make
that a reality,” said Todd Adams, President and Chief Executive Officer
of Rexnord. “We expect to drive considerable revenue and cost synergies
as the business is integrated into Rexnord and believe the complementary
product portfolio opens up multiple growth opportunities for us.”
“With the mission-critical nature of the applications in which most of
Centa’s products are used, we believe there is a substantial opportunity
to bring our DiRXN™ digital productivity platform and connected products
capabilities to create even more value for Centa’s long-standing and
impressive customer relationships,” said Kevin Zaba, Group Executive and
President Rexnord Process & Motion Control platform.
About Rexnord
Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two
strategic platforms, Process & Motion Control and Water Management, with
approximately 8,000 employees worldwide. The Process & Motion Control
platform designs, manufactures, markets and services specified, highly
engineered mechanical components used within complex systems. The Water
Management platform designs, procures, manufactures and markets products
that provide and enhance water quality, safety, flow control and
conservation. Additional information about Rexnord can be found at www.rexnordcorp.com.
About Centa Power Transmission (Centa Antriebe Kirschey GmbH)
Headquartered in Haan, Germany, Centa has been engaging in solving
complex drive train and torsional vibration challenges since 1970. Centa
is a producer of highly-engineered flexible couplings and shaft lines
for industrial and marine applications, for power generation and rail
applications. Centa’s couplings are primarily used for diesel-driven
applications where the couplings dampen the torsional vibrations of the
engine. Further information on Centa is available at www.centa.info.
Forward-Looking Statements
Information in this release may involve outlook, expectations,
beliefs, plans, intentions, strategies or other statements regarding the
future, which are forward-looking statements. These forward-looking
statements involve risks and uncertainties. All forward-looking
statements included in this release are based upon information available
to Rexnord Corporation as of the date of the release, and Rexnord
Corporation assumes no obligation to update any such forward-looking
statements. The statements in this release are not guarantees of future
performance, and actual results could differ materially from current
expectations. Numerous factors could cause or contribute to such
differences. Please refer to “Risk Factors” and “Cautionary Notice
Regarding Forward-Looking Statements” in the Company’s Form 10-K for the
fiscal year ended March 31, 2017 as well as the Company’s annual,
quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from
time to time with the SEC for a further discussion of the factors and
risks associated with the business.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180108005582/en/
Source: Rexnord Corporation
Rexnord Corporation
Investor Contact:
Rob
McCarthy, 414-223-1615
Vice President, Investor Relations
or
Media
Contact:
Angela Hersil, 855-480-5050
Director, Corporate
Communications
Corporate.Communications@Rexnord.com