Rexnord to remain independent

Milwaukee-based Rexnord Corp. today announced that its board of directors has determined that the firm’s best alternative is to remain as an independent, publicly traded company.

The board concluded its previously announced review of the company’s strategic alternatives.

“After a thorough review and significant interest, it became clear that the best path to create value for shareholders was the execution of Rexnord’s strategic plan. The underlying strength of our businesses, market positions and management team gives us great confidence that we will continue to outperform our served markets and competition, particularly as our key end-markets improve” said George Sherman, Rexnord’s non-executive chairman.

Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 7,300 employees worldwide. The company’s stock is traded on the New York Stock Exchange with the ticker symbol of “RXN.”

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