A.O. Smith to Sell Electrical-Products Business to Regal-Bel

Published on Mon, 12/13/2010 - 13:59
By Anonymous in acquisition, aos, aosmith, beloit, deal, electrical, fiscal, fnn, motor, nyse, rbc, regal, sale, tech, unit
aosmith, nyse, aos, electrical, unit, regal, beloit, rbc, acquisition, deal, motor, tech, fiscal, sale, fnn

Officials from A.O. Smith Corp. (NYSE:AOS) announced that the firm plans to sell its electrical-products unit to Regal-Beloit Corp. (NYSE:RBC), MarketWatch reports Monday.

The deal is set at the price of $875 million.

Shares of A.O. Smith are trading up 3.13% on the news at $44.42, as are shares of Regal-Beloit, which are trading 5.27% higher at $67.11.

A.O. Smith manufactures products through its electric motor and water systems technologies segments.

A.O. Smith had sales growth of 0.1% during the last fiscal year.

The company has reported $2.2 billion in sales over the past 12 months and is expected to report $2.3 billion in sales in the next fiscal year.

A.O. Smith is currently above its 50-day moving average (MA) of $38.85 and above its 200-day MA of $35.46.

In the last five trading sessions, the 50-day MA has climbed 0.95%, while the 200-day MA has risen 0.87%.

By Anonymous

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