Rexnord Corporation Acquires World Dryer Corporation
October 09 2017 - 5:05PM
Business Wire
Expands Finished Plumbing Product Offering Into
Adjacent Commercial Hand Drying Market
Rexnord Corporation (NYSE: RXN) announced today that it acquired
World Dryer Corporation. World Dryer is a leading global
manufacturer of commercial electric hand dryers with the largest
worldwide installed product base.
World Dryer has annual sales of approximately $20 million, and
will join Rexnord’s Zurn business. The combination of World Dryer’s
eco-friendly hand dryers and Zurn’s water-efficient plumbing
products is expected to bring even greater value to commercial
building owners in the form of lower operating costs.
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 the Company can be found
at www.rexnordcorp.com.
Zurn, a business within Rexnord’s Water Management platform, is
a recognized leader in commercial, municipal, healthcare and
industrial markets. Zurn offers the largest breadth of engineered
water solutions, including a wide spectrum of sustainable plumbing
products. Zurn delivers total building solutions for new
construction and retrofit applications that enhance building
environments.
Cautionary Statement on 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 Securities and Exchange Commission for a further
discussion of the factors and risks associated with the
business.
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version on businesswire.com: http://www.businesswire.com/news/home/20171009006017/en/
Rexnord CorporationInvestor Contact:Rob McCarthyVice President,
Investor Relations414-223-1615orMedia Contact:Angela
HersilDirector, Corporate
Communications855-480-5050Corporate.Communications@Rexnord.com
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