Rexnord Corp. has entered into a definitive agreement to acquire Centa Power Transmission (Centa Antriebe Kirschey GmbH), a leading manufacturer of premium flexible couplings and drive shafts for industrial, marine, rail and power generation applications. Subject to customary closing conditions, the transaction is estimated to close by the end of February.
"Centa is a business that we have long thought would be an outstanding fit with Rexnord and we are very excited to come to an agreement to make that a reality," said Todd Adams, President and CEO of Rexnord. "We expect to drive considerable revenue and cost synergies as the business is integrated into Rexnord and believe the complementary product portfolio opens up multiple growth opportunities for us."
"With the mission-critical nature of the applications in which most of Centa's products are used, we believe there is a substantial opportunity to bring our DiRXNTM digital productivity platform and connected products capabilities to create even more value for Centa's long-standing and impressive customer relationships," said Kevin Zaba, Group Executive and President Rexnord Process & Motion Control platform.
Read the article online at: https://www.drybulkmagazine.com/material-handling/11012018/rexnord-to-acquire-centa-power-transmission/