Palo Alto, CA — Frost & Sullivan has selected Regal Beloit Corp. as the recipient of its 2007 Company of the Year Award in the North American motors industry.
Regal-Beloit is a manufacturer of mechanical and electrical motion control and power generation products serving markets throughout the world. It is based in Beloit, Wisc., and has manufacturing, sales and service facilities in the United States, Canada, Mexico, Europe and Asia.
“Regal Beloit has created industry benchmarks in setting performance goals, driving internal growth, increasing shareholder value, and exceeding customer expectations with a keen focus on providing globally competitive, and yet customized product solutions,” says the consulting firm.
The company has been able to consistently deliver customer value with its unique ability to drive organic growth while acquiring and rapidly integrating 43 companies over 51 years. The management team employs the RBC Operating System at each of its acquisitions, enabling it to drive consistent metrics, share best practices and deploy Lean Six Sigma at all levels of the company.
“Using its strategic associations, the company has been able to identify, assess, evaluate and establish a clear customer-winning approach for each of it’s individual businesses, which has facilitated the generation of greater market revenues and global expansion of its customer base,” says Frost & Sullivan team leader for industrial automation and process controls, Shibu S.L.
Regal Beloit’s meticulous and disciplined acquisition integration approach has helped it unite an efficient workforce, beneficial customer relationships, excellent distribution networks, and a global manufacturing and engineering footprint. These moves have improved Regal Beloit’s global competitiveness, sophistication of technologies, and focus on the customer.
Very few companies can match Regal Beloit’s abilities to deliver consistent quality at competitive prices across end-user verticals, globally, suggests Frost & Sullivan. This is indicated by the company’s exceptional revenue compounded annual growth rate of more than 17% over the past 10 years, which far exceeded the industry average.
Regal Beloit has been striving to enhance its customer responsiveness through its five key initiatives: Customer Centricity, Globalization, Innovation, Digitization and Lean Six Sigma. The business savvy company has also created an ideal marketing mix of direct sales and channel distribution networks for more targeted and effective inbound as well as outbound customer campaigns.
“With more than 13,000 employees and 62 manufacturing, engineering and service/distribution facilities, Regal Beloit has a global manufacturing footprint with highly localized support for its customers,” notes Shibu. “It has shown distinctive ability to offer quality and reliability through superior product development and innovation, thus improving lifecycle benefits in all its products.”
Each year Frost & Sullivan presents this award to the company that has demonstrated excellence in the fields of technology and has shown commitment to continuously evolve and remain a leading participant in its industry. The recipient has displayed excellence in all areas of the process, including the identification of industry challenges, market drivers and restraints, as well as strategy development.