Milwaukee, WI. — Rexnord Corporation has completed the acquisition of the Falk Corporation from Hamilton Sundstrand, a subsidiary of United Technologies Corporation, for US$295 million.
Rexnord, based in Milwaukee, Wisc., is a worldwide manufacturer of mechanical power transmission components with revenues of approximately $800 million and 4,800 employees located at more than 30 manufacturing facilities worldwide. Falk Corporation, also based in Milwaukee, is a manufacturer of gears and couplings, with annual revenues of approximately $200 million.
“We are pleased that the acquisition process is complete,” said Robert Hitt, Rexnord chief executive officer. “The merger with Falk represents an important step forward for Rexnord, significantly enhancing our capabilities in the power transmission industry.”
“We see this merger as a real win for the Falk Corporation,” said Dave Doerr, Falk president. “By joining forces with Rexnord, we see an excellent opportunity to expand our business.”
For more information, visit www.rexnord.com or www.falkcorp.com.