WEG completed the acquisition of the Industrial Motors and Generators businesses of Regal Rexnord for $400m.

WEG, a Brazilian company, operating worldwide in the electric engineering, power and automation technology areas, completed the acquisition of the Industrial Motors and Generators businesses of Regal Rexnord, a manufacturer of electric motors and power transmission components, for $400m. "After a thorough strategic review, we believe this transaction with WEG will be a true win-win for both companies' principal stakeholders. The sale of our Industrial Motors and Generators businesses is consistent with our strategy of focusing the portfolio on products, sub-systems, end markets and/or applications where we can achieve GDP-plus growth rates and gross margins above 35%. While we have made significant progress improving the growth prospects and margins at these businesses, we believe that WEG is in a better position to accelerate their performance going forward," Louis Pinkham, Regal Rexnord CEO.