Rockwell Automation on January 31 announced that it has completed the sale of the company’s Dodge mechanical and Reliance Electric motors and motor repair services businesses to Baldor Electric Company. 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."
