UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported): April
12, 2006
REGAL-BELOIT
CORPORATION
(Exact
name of registrant as specified in its charter)
|
Wisconsin
|
1-7283
|
39-0875718
|
|
(State
of other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
200
State Street, Beloit, Wisconsin 53511
(Address
of principal executive office)
(608)
364-8800
Registrant’s
telephone number, including area code
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
□ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
□ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
□ Precommencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
□ Precommencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
Item
1.01 Entry into a Material Definitive
Agreement.
On
April
12, 2006 REGAL-BELOIT CORPORATION announced the Company has entered into
a
definitive agreement to acquire the assets of Changzhou Sinya Electromotor
Co.
Ltd., Jiangsu Southern Sinya Electric Co. Ltd. and Changzhou Xiesheng Plastic
Co. Ltd. (collectively “Sinya”). Sinya operations are located in Changzhou,
China and will primarily produce electric motors for the HVAC industry.
Completion of the acquisition is subject to the fulfillment of certain
conditions precedent to closing. The purchase price was not disclosed.
Henry
W.
Knueppel, CEO of REGAL-BELOIT CORPORATION commented, “This
acquisition is a demonstration of our commitment to expand our commercial
presence in high growth markets, to continue to support our global customer
base
and to continue to expand our global manufacturing footprint.”
This
acquisition results in the second wholly owned China based company for
REGAL-BELOIT. The business reported sales of $38.7 million and net income
of $2.7 million for 2005.
The
following is a cautionary statement made under the Private Securities Litigation
Reform Act of 1995: With the exception of historical facts, the statements
contained in this press release may be forward looking statements.
Forward-looking statements represent our management’s judgment regarding future
events. We cannot guarantee the accuracy of the forward-looking statements,
and
you should be aware that results and events could differ materially and
adversely from those contained in the forward-looking statements due to
a number
of factors, including the risks and uncertainties described from time to
time in
our reports filed with U.S. Securities and Exchange Commission. All subsequent
written and oral forward-looking statements attributable to us or to persons
acting on our behalf are expressly qualified in their entirety by the applicable
cautionary statements. The forward-looking statements included in this
press
release are made only as of the date of this release, and we undertake
no
obligation to update these statements to reflect subsequent events or
circumstances.
Item
9.01 Financial
Statements and Exhibits
| a) |
Not
applicable.
|
| b) |
Not
applicable.
|
| c) |
Not
applicable.
|
| d) |
Exhibits:
The following exhibit is being furnished
herewith:
|
(99)
Press Release of REGAL-BELOIT CORPORATION dated April 11, 2006
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| REGAL-BELOIT CORPORATION | ||
| |
|
|
| Date: April 12, 2006 | By: | /s/ David A. Barta |
|
|
||
| Vice President, Chief Financial Officer | ||