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Purchase Of American Regal Rexnord Corporation By Brazilian Weg Expands Global Presence Of Catarinense Company
The Brazilian multinational WEG, based in Jaraguá do Sul, has completed the acquisition of the industrial electric motors and generators business from American Regal Rexnord Corporation. The deal, announced in September of last year, was concluded for 400 million dollars, approximately R$ 1.98 billion, according to the dollar exchange rate at the time. With the purchase, the net operating revenue from the acquired Regal Rexnord businesses reaches almost R$ 3 billion, according to the Ndmais website.
In addition to the acquisition of the American brands Marathon, Cemp, and Rotor, WEG will incorporate about 2,800 employees who work in ten factories located in seven countries: the United States, Mexico, China, India, Italy, the Netherlands, and Canada.
Net Profit Of Over 1 Billion From Brazilian
The catarinense company also announced a net profit of R$ 1.32 billion in the first quarter of 2024, a 1.6% increase compared to the same period last year. During this quarter, the company’s net operating revenue was R$ 8 billion, representing a growth of 4.4%.
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Furthermore, in the financial results, the company reported that it invested R$ 351.5 million in modernization and expansion of production capacity, machinery, equipment, and software licenses, with 64% of this amount allocated to production units in Brazil.
New Facilities Of Weg In Mexico
In March, Brazilian WEG announced an investment of R$ 100 million in a new industrial liquid paints factory in Mexico, expected to be operational by early 2026. With approximately 5,300 m², the new unit aims to increase production capacity and serve the North and Central American markets.
The acquisition of American Regal Rexnord Corporation and the new investments from Brazilian WEG reinforce the growth and expansion of the catarinense company globally, consolidating its position as one of the leading players in the industrial electric motors and generators market.
