Rockwell Automation, Inc. (NYSE:ROK) today announced that it has
completed the sale of the company's Dodge(R) mechanical and Reliance
Electric(TM) motors and motor repair services businesses to Baldor
Electric Company (NYSE:BEZ). Rockwell Automation received $1.75
billion in cash and approximately 1.6 million shares of Baldor common
stock from this transaction.
Keith D. Nosbusch, Chairman and Chief Executive Officer of
Rockwell Automation, said, "We are pleased this transaction enables us
to sharpen our focus on architecture, software and intelligent motor
control businesses which provide world-class industrial automation
control and information solutions for our customers."
For further details, please consult Baldor's press release of
January 31, 2007, available at www.baldor.com.
This news release contains statements (including certain
projections and business trends) accompanied by such phrases as
"believe", "estimate", "expect", "anticipate", "will", "intend" and
other similar expressions, that are "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a result
of certain risks and uncertainties, many of which are beyond our
control, including but not limited to:
-- economic and political changes in global markets where we
compete, such as currency exchange rates, inflation rates,
interest rates, recession, policies of foreign governments and
other external factors we cannot control, and U.S. and local
laws affecting our activities abroad and compliance therewith;
-- successful development of advanced technologies and demand for
and market acceptance of new and existing products;
-- general global and regional economic, business or industry
conditions, including levels of capital spending in industrial
markets;
-- the availability, effectiveness and security of our legacy and
future information technology systems;
-- competitive product and pricing pressures;
-- disruption of our operations due to natural disasters, acts of
war, strikes, terrorism, or other causes;
-- intellectual property infringement claims by others and the
ability to protect our intellectual property;
-- our ability to successfully address claims by taxing
authorities in the various jurisdictions where we do business;
-- our ability to attract and retain qualified personnel;
-- the uncertainties of litigation;
-- disruption of our North American distribution channel;
-- the availability and price of components and materials; and
-- other risks and uncertainties, including but not limited to
those detailed from time to time in our Securities and
Exchange Commission filings.
These forward-looking statements reflect our beliefs as of the
date of filing this release. We undertake no obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Rockwell Automation, Inc. (NYSE: ROK), is a leading global
provider of industrial automation control and information solutions
that help manufacturers achieve a competitive advantage in their
businesses. The company brings together leading global brands in
industrial automation which include Allen-Bradley(R) controls and
services and Rockwell Software(R) factory management software.
Headquartered in Milwaukee, Wis., the company employs about 19,000
people serving customers in more than 80 countries.
