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 certain assets of Lubron Bearing Systems ("Lubron") for approximately $2.9 million.
Lubron located in Huntington Beach, California, is a manufacturer of highly engineered self-lubricating bearings used in bridge building, power generation, subsea oil production, and earthquake seismic isolation. Recent projects include the new San Francisco Bay Bridge, high speed railway bridges in Greece, London`s Thames flood barrier, Grand Coulee Dam, and nuclear power plants in Korea.
Dr. Michael J. Hartnett, Chairman and Chief Executive Officer, commented, "The addition of Lubron`s very unique and complimentary bearings to our portfolio of highly engineered products increases the breadth of our current offering to customers while also increasing our prospects for future growth. The acquisition is in line with our strategy of product portfolio expansion to supply the expanding markets of infrastructure repair and construction."
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings and components. Founded in 1919, the Company is primarily focused on producing highly technical or regulated bearing products requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace and defense markets. Headquartered in Oxford, Connecticut, RBC Bearings currently employs approximately 1,813 people and operates 22 manufacturing facilities in four countries.
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