(November 26, 2010)
Acquisitions made this week will likely result in the creation of new jobs at Waukesha Bearings Corp. facilities in Pewaukee and Antigo, a company official said Friday.
Waukesha Bearings, based in Pewaukee, said this week that it had acquired KMC Inc. and Bearings Plus Inc., companies involved in the design, analysis and manufacturing of engineered fluid film bearings and seals.
KMC is based in West Greenwich, R.I., and Bearings Plus is based in Houston.
Financial terms were not disclosed.
Jessica Whalen, marketing specialist for Waukesha Bearings, said there are no precise figures on how many jobs might be added as a result of the acquisitions. "We expect some job creation in both Pewaukee and Antigo as we grow the business globally," she said in an e-mail.
Waukesha Bearings has a plant in Antigo in north-central Wisconsin.
"Currently we employ about 160 people in Wisconsin. With the acquisition of KMC/BPI, our global employee base is around 600," Whalen said in the e-mail. Waukesha Bearings is a unit of Dover Corp. and is part of its Fluid Management segment.
"The acquisition of KMC and Bearings Plus extends Waukesha's market-leading bearing solutions for oil and gas and large scale power generation applications," Waukesha Bearings said in statement announcing the acquisitions. "The KMC and Bearings Plus brands are well known in the industry for delivering innovative products and superior customer service."
Waukesha Bearings manufactures hydrodynamic bearings, magnetic bearings and sealing products for rotating equipment in oil and gas, power generation, marine and industrial markets. Typical applications include gas, steam and hydro turbines, centrifugal gas compressors, gearboxes, pumps and motors.
Founded in 1946, Waukesha Bearings has been owned by Dover since 1977. The company is made up of Waukesha Bearings, Waukesha Magnetic Bearings and Inpro/Seal. The company has facilities in the U.S., UK, Mexico, Russia, India and Japan.
Dover, based in suburban Chicago, is a global manufacturer of components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
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