Rexnord Corporation to Acquire Centa Power Transmission
January 08 2018 - 6:45AM
Business Wire
Expands into Adjacent Flexible Couplings
Category;Adds Approximately $100 Million of Revenue
Rexnord Corporation (NYSE: RXN) announced today that it has
entered into a definitive agreement to acquire Centa Power
Transmission (Centa Antriebe Kirschey GmbH), a leading manufacturer
of premium flexible couplings and drive shafts for industrial,
marine, rail and power generation applications. Subject to
customary closing conditions, the transaction is expected to close
by the end of February.
“Centa is a business that we have long thought would be an
outstanding fit with Rexnord and we are very excited to come to an
agreement to make that a reality,” said Todd Adams, President and
Chief Executive Officer of Rexnord. “We expect to drive
considerable revenue and cost synergies as the business is
integrated into Rexnord and believe the complementary product
portfolio opens up multiple growth opportunities for us.”
“With the mission-critical nature of the applications in which
most of Centa’s products are used, we believe there is a
substantial opportunity to bring our DiRXN™ digital productivity
platform and connected products capabilities to create even more
value for Centa’s long-standing and impressive customer
relationships,” said Kevin Zaba, Group Executive and President
Rexnord Process & Motion Control platform.
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 Rexnord can be found at
www.rexnordcorp.com.
About Centa Power Transmission (Centa Antriebe Kirschey
GmbH)
Headquartered in Haan, Germany, Centa has been engaging in
solving complex drive train and torsional vibration challenges
since 1970. Centa is a producer of highly-engineered flexible
couplings and shaft lines for industrial and marine applications,
for power generation and rail applications. Centa’s couplings are
primarily used for diesel-driven applications where the couplings
dampen the torsional vibrations of the engine. Further information
on Centa is available at www.centa.info.
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 SEC 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/20180108005582/en/
Rexnord CorporationInvestor Contact:Rob McCarthy,
414-223-1615Vice President, Investor RelationsorMedia
Contact:Angela Hersil, 855-480-5050Director, Corporate
CommunicationsCorporate.Communications@Rexnord.com
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