Baldor Electric Acquires Maska Power Transmission Business |
| Date: 19/9/08 11:48 |
| Baldor Electric Company has announced that it has acquired Poulies Maska, Inc. of Ste-Claire, Quebec, Canada. |
Baldor markets, designs, and manufactures industrial electric motors, power transmission products, drives, and generators. Maska is a designer, manufacturer and marketer of sheaves, bushings, couplings and related mechanical power transmission components. It has 180 employees, primarily located in Canada, and a new facility in China. Maska’s sales in 2007 were approximately $33 million.
John McFarland, Chairman and CEO of Baldor said, “We are excited to announce the addition of Maska to our line of mechanical power transmission products. Over the past five years the management team at Maska has increased sales and profits by nearly 50%. Its two automated and efficient facilities produce a large variety and some of the highest quality products available in the marketplace. Maska’s sheaves and bushings complement our Dodge line with each having success in different parts of the market.”
Benefits of the transaction include Maska's operating and gross margins which significantly exceed Baldor’s overall margins, providing Baldor a second plant in China to support international growth, expected results in leading market share of sheaves and bushings in North America and accretive to Baldor’s earnings by approximately $0.03 per year, excluding synergies
The transaction was funded by cash and an existing credit facility but additional terms were not disclosed. |
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