Regal Beloit Corp. today announced it has reached agreement to acquire Cemp, s.r.l., a manufacturer of hazardous duty motors based in Milan, Italy.
“Earlier today, we signed an agreement to acquire Cemp, a European-based electric motor manufacturer that produces specialty flame proof motors primarily for oil and gas and marine applications. With revenues of approximately $35 million, Cemp will fit in well with our existing European footprint and aid in our efforts to grow profitably in Europe,” said Mark Gliebe, chairman and chief executive officer of Regal Beloit.
