Genuine Parts Company announced March 3 that its Industrial Parts Group, Motion Industries, has completed the acquisition of the North American assets of BC Bearing (BC Bearing and US Bearings), effective March 1. The company had previously announced the pending agreement to acquire these assets on December 21, 2009. The company will no longer be acquiring the assets of Norcan Fluid Power.
BC Bearing, headquartered in Vancouver, British Columbia, is a bearing and power transmission distributor with operations throughout western Canada and the northwestern United States. The company expects the acquired business to generate annual revenues of approximately $155 million (CDN).
