RBC Bearings Incorporated Announces the Consolidation and Restructuring of its Large Bearing Manufacturing Facilities
OXFORD, Conn.--(BUSINESS WIRE)--Mar. 1, 2013-- RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense, and aerospace industries, today announced its plans to consolidate and restructure its large bearing manufacturing facilities.
In March 2013, the company will discontinue manufacturing large bearings in Houston, Texas and will consolidate the manufacturing into other RBC manufacturing facilities, mainly its South Carolina operation.
The consolidation will serve to strengthen and bring to critical mass the efficiency of large bearing manufacturing operations and consequently a gross margin improvement for this product offering is planned over the next 12 months. This consolidation will result in a pre- tax charge of approximately $7.7 million and an after-tax charge of approximately $5.5 million in the fourth quarter of fiscal 2013.
RBC Bearings Incorporated Completes the Acquisition of Western Precision Aero LLC
OXFORD, Conn.--(BUSINESS WIRE)--Mar. 4, 2013-- RBC Bearings Incorporated (NASDAQ: ROLL), a leading international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, today announced that it has acquired Western Precision Aero LLC (“WPA”) for approximately $2.6 million.
WPA located in Garden Grove, California, is a manufacturer of precision components and gears for the aerospace and industrial markets. WPA’s net sales for the last calendar year were approximately $5.0 million.
Dr. Michael J. Hartnett, Chairman and Chief Executive Officer, commented, “The addition of WPA’s unique and complimentary products and processes to our portfolio of highly engineered products increases the breadth of our current offering to customers. The acquisition is in line with our strategy of product portfolio expansion into the aerospace and industrial markets."