US-based manufacturer of electric motors, mechanical and electrical motion controls and power generation products, Regal Beloit, has closed on the acquisition of Cemp, s.r.l., a European manufacturer of hazardous duty motors primarily for oil and gas and marine applications.
Regal inform that for 2014 and 2015, Cemp is anticipated to be accretive to earnings per share by $0.03 to $0.05 and $0.06 to $0.08, respectively. Regal's fourth quarter 2013 earnings guidance provided in an earlier earnings release did not include the anticipated results of this acquisition.
Cemp is expected to be $0.01 to $0.02 dilutive to fourth quarter earnings per share including purchase accounting adjustments and transaction costs.
About Regal Beloit
Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal Beloit's common stock is a component of the S&P Mid Cap 400 Index and the Russell 2000 Index.