Baldor Electric signs agreement to acquire Reliance Electric

Fort Smith, Ark.-based Baldor Electric, manufacturer of industrial electric motors, drives and generators, recently signed a definitive agreement to acquire Reliance Electric and the Power Systems business segment of Rockwell Automation, Inc. Baldor will purchase 100% of the equity interest in the Power Systems business for $1.8 billion.

A Web cast and slide presentation discussing the acquisition will be available on Baldor's Web site in the investor relations' news and events section.