WI - James L. Packard, CEO and Chairman of REGAL-BELOIT
CORPORATION (AMEX:RBC) announced the Company’s purchase
of certain assets relating to the Powertrax® Division of Vehicular
Technologies, Costa Mesa, CA. The purchased assets include the
entire Powertrax® differential product line inventory, as
well as patents and other intellectual property.
product line, with annual sales of approximately $3 million, is
used for both off-road and high performance automotive and truck
applications. Powertrax® devices attach to the ring and pinion
and lock both axles together for extreme traction. Powertrax®
patented technologies and advanced products have been developed
to exceed even the most demanding vehicular requirements. Powertrax®
no-slip traction systems are easy to install for do-it-yourselfers
and are available for trucks (1/2 ton, 3/4 ton, 1 ton), Jeeps,
SUV’s, RV’s, vans, cars, utility vehicles and heavy
industrial/commercial equipment and performance vehicles.
Henry Knueppel, President
of REGAL-BELOIT noted that the Powertrax® products and technology
is an “ideal and synergistic fit” with the REGAL-BELOIT
RICHMOND GEAR product line including high performance automotive
ring and pinions, transmissions and other driveline products.
RICHMOND GEAR, a division of REGAL-BELOIT, supplies drive train
products to NASCAR, NHRA, IHRA and to the street car and off-road
enthusiast. The Powertrax® assets and technology will join
the RICHMOND GEAR operation in Liberty, South Carolina.
the size of this product line is not substantial today,”
Knueppel continued, “we believe the product itself combined
with the RICHMOND products and market channels will create rapid
growth for our RICHMOND brand of drive train products.”
“REGAL-BELOIT is committed to expanding our business
through the strategic acquisition of complementary and technically
advanced product lines and businesses. The acquisition of these
assets is REGAL-BELOIT’s fourth since June, 2000.”
Other recent acquisitions include the Spiral Bevel Division of
Philadelphia Gear, Thomson Technology, and LEESON Electric.