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Rexnord to acquire Falk in expansion of its power transmission business

Milwaukee, WI -- Two major companies in the industrial power transmissiion business, 114-year-old Rexnord Corp. and...


Milwaukee, WI — Two major companies in the industrial power transmissiion business, 114-year-old Rexnord Corp. and 113-year-old Falk Corp., have entered into an agreement for Rexnord to purchase Falk from Hamilton Sundstrand for $295 million. The transaction is expected to close in the second quarter of 2005. <br>
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Rexnord Corp., headquartered in Milwaukee, Wisconsin, is a worldwide manufacturer of mechanical power transmission components with revenues of approximately $800 million. Falk Corp., also headquartered in Milwaukee, is a manufacturer of gears and couplings, with annual revenues of approximately $200 million. <br>
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“By combining two successful companies that have complementary products and technologies, we create a bigger, stronger business, with combined annual revenues in excess of $1 billion,” said Robert Hitt, Rexnord chief executive officer. <br>
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“Our combined organization will be significantly larger, with enhanced capabilities, and with a clear focus on the power transmission industry,” said Dave Doerr, president of Falk.<br>
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“We have complementary businesses and will leverage our strengths to grow our business. This will allow us to provide a broader range of products and services, and will reduce complexity.”<br>
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Rexnord Corp. has 4,800 employees located at more than 30 manufacturing facilities worldwide. It manufacturers gears, couplings, flattop and industrial chain, industrial bearings, aerospace bearings and seals, and a variety of special components. For more information, visit www.rexnord.com. <br>
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Falk Corp. is a global manufacturer of industrial power transmission solutions. Its products includes standard and engineered gear drives, mill products, couplings, and service and repair. Falk has distributor locations and production facilities in the U.S., Canada, Mexico, Brazil, China, and Australia. For more information, visit www.falkcorp.com. <br>