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Regal Beloit Corporation acquires Cemp
Explosion-proof motor specialist CEMP has been acquired by Regal Beloit.
“Earlier today, we signed an agreement to acquire Cemp, a European based electric motor manufacturer that produces specialty flame proof motors primarily for oil and gas, marine and mine applications. Cemp will fit in well with ourexisting European footprint and aid in our efforts to grow profitably in Europe”. With this statement, last November 19th, Mark Gliebe, Regal Beloit Chair-man and CEO, introduced Cemp entry into Regal great family.
Regal Beloit is a large international corporation headquartered in Wisconsin and worldwide well known through its several brands, last year achieved annual sales of 3.1 billion dollar. Regal range production extends from electric motors and generators to gear reducers, and electronic switchgear, our products convert power into motion to help the world run more efficiently. You will find Regal products in home ovens, pumps, elevators, conveyors, X-ray machines, office equipment, power stations and thousands of other uses.
Despite volatile and challenging global economic conditions, under the leadership of CEO Mark J. Gliebe, last year the company achieved annual sales of $3.1 billion, more than a 77- fold increase from 1980 sales. Regal paid its first cash dividend in January, 1961 and since then, it has paid 210 consecutive quarterly dividends through December 2012. Regal dividends have been increased seven out of the last eight years. For Cemp it is a safe harbor that will allow a new and important phase of grwoth and development.