The global site of the UK's leading magazine for automation, motion engineering and power transmission
28 November, 2023

Twitter link
July News in Brief
Published:  01 July, 2008

º  The owner of the US mechanical components manufacturer Rexnord is planning to raise $650m for the business through an IPO (initial public offering). The owner, a private equity firm called Apollo Management, bought Rexnord from the Carlyle Group for $1.8bn in 2006. Carlyle had earlier acquired Rexnord for $913m from Invensys, in 2002. Rexnord’s products include gears, couplings, chains, bearings, belts and seals.

º  The Chinese linear motor manufacturer Harbin Electric is buying the Weihai Hengda Electric Motor company, which manufactures high and low voltage, AC and DC motors, for RMB375m (about $54m) in cash. The acquisition gives Harbin a full range of motors from linear machines, to rotary motors and speciality micro-motors. In the year to March 2008, Hengda Electric Motor produced a profit of around $6.5m on sales worth $49m.

  • To view a digital copy of the latest issue of Drives & Controls, click here.

    To visit the digital library of past issues, click here

    To subscribe to the magazine, click here



"Do you think that robots create or destroy jobs?"



Most Read Articles