Regal Beloit acquires remaining shares of European JV Elco

Regal Beloit purchased the remaining 45% of shares in its European joint venture, Elco, for $19 million. The deal closed in January 2016 and is expected to add $0.03 to 2016 EPS.

“Remaining 45% of shares of European JV (Elco) > Paid $19 million > Sells energy efficient motor and blower systems into commercial refrigeration market > Closed January 2016 > JV results already consolidated > $0.03 increase to 2016 EPS (included in prior 2016 guidance)”

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