Rockwell Automation Plans to Sell Mechanical and Motor Business
Rockwell Automation announced plans to sell its Dodge? mechanical and Reliance Electric motors and motor repair services businesses, the principal businesses of the company's power systems reporting segment. Rockwell Automation will retain the Reliance Electric and Reliance branded drives and related parts and services as an integral part of its global drives and customer services businesses.
The Dodge and Reliance Electric businesses, headquartered in Greenville, SC, were forecasted to generate about $1 billion in revenue for 2006, with segment operating margins of approximately 15%.
Keith D. Nosbusch, chairman and CEO of Rockwell Automation, says, ?In their areas of strength, the Dodge and Reliance Electric businesses are unbeatable. We believe they will benefit from ownership dedicated to investing and globalizing to sustain their growth as the premier providers of power transmission and conversion solutions.?