Baldor Electric's Acquisition of Rockwell Automation's Power Systems Business Receives Hart-Scott-Rodino Clearance
MILWAUKEE-(BUSINESS WIRE)-Dec. 19, 2006-Rockwell Automation, Inc. (NYSE:ROK) announced today that the antitrust waiting period under the Hart-Scott-Rodino Act has expired without the need for any further review of the planned sale of Reliance Electric Company and certain of its affiliated companies to Baldor Electric Company (NYSE:BEZ).
The transaction, which will create one of the leading North American manufacturers of industrial electric motors and mechanical power transmission products, remains subject to customary closing conditions. Rockwell Automation expects that the transaction will close on or about January 31, 2007.
Rockwell Automation Inc. (NYSE: ROK) is a leading global provider of industrial automation power, control and information systems and services that help manufacturers achieve a competitive advantage in their businesses. The company brings together leading brands in industrial automation, including Allen-Bradley® controls and services, Dodge® mechanical power transmission products, Reliance Electric(TM) motors and drives, and Rockwell Software factory management software. Headquartered in Milwaukee, Wis., the company employs about 23,000 people serving customers in more than 80 countries.
CONTACT: Rockwell Automation
John A. Bernaden, 414-382-2555
Media Relations
or
Tim Oliver, 414-382-8510
Investor Relations
