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Canada RBC Bearing Agreed on Monday to buy Swiss engineering firm ABB powertrain unit Dodge for $2.9 billion, as the U.S. bearing maker seeks to reduce its exposure to the aerospace industry hit by the outbreak.
Royal Bank of Canada shares surged 19.4 percent to a record $246.56, while ABB shares rose 1 percent.
Dodge, which has some overlap with RBC in bearings used in food processing and belt drives for mine conveyances, is involved in high-growth markets such as warehousing. In the midst of a health crisis, online shopping in warehousing is enjoying a boom.
RBC gets 58 percent of its revenue from the aerospace industry, which has been struggling due to international and domestic travel restrictions caused by the coronavirus.
"The merger will enhance RBC Bearing footprint... While increasing our access to Dodge attractive end markets, "said Michael Hartnett, CEO of RBC Bearing.
After closing, which is expected in the fourth quarter of 2021, RBC aerospace sales will decrease to 30 percent of total revenue, with the remaining 70 percent coming from a wide range of existing and new industrial end markets, the company said.
RBC said the deal will immediately add about 40% to 60% to cash earnings per share in the first full fiscal year after closing and will save about $70 million to $100 million annually in pretax earnings by the fiscal year 2026.
ABB will use the proceeds to fund organic growth, a higher dividend and acquisitions, the company said.
It is the first major divestiture under ABB Chief Executive Bjorn Rosengren. Mr. Rosengren put Dodge up for sale last year as he sought to simplify ABB complex structure.
In the 12 months through June 2021, Dodge, which has 1,500 employees, generated sales of about $600 million and an adjusted EBITDA margin of 28 percent.
RBC Bearings to buy ABB Dodge transmission business for $2.9 bln. The 608rs specs market price of the bearing industry will also fluctuate. If you are looking for 608rs specs or get more information about 608rs specs, please send an email to email@example.com
Due to changes in consumer demand, import and export conditions, and various investigations on the development of 608rs specs, the cost of 608rs specs is constantly changing. Taking into account the current market macroeconomic parameters, value chain analysis, channel partners, demand and supply, the cost of 608rs specs will also be affected to a certain extent. It is estimated that the cost of 608rs specs will increase slightly from next month.
The price of 608rs specs continues to be affected by factors such as market decline momentum, various opportunities and challenges. However, during the forecast period from 2022 to 2025, the global 608rs specs sales market is expected to continue to be above average. The growth rate will continue to increase. It is expected that In the second half of this year, the price of 608rs specs will increase to a certain extent.
The market demand of 608rs specs?
The global bearing market value in 2020 is 123.34 billion U.S. dollars and is expected to reach 153.62 billion U.S. dollars by 2027, and the compound annual growth rate will also increase steadily.
A bearing is a mechanical element that supports relative movement and helps reduce friction caused between moving parts. Bearings are widely used in various industries such as automobiles, wind turbines, construction machinery, mining machinery, agricultural equipment, and machine tools. It is used in automobiles to ensure smooth driving of automobiles, electric vehicles (EV) and other types of vehicles (such as light commercial vehicles and heavy vehicles such as trucks). Due to the increasing utilization of bearing 608rs specs in various end-use industries, rolling mills and electric vehicles, the global 608rs specs market has become more and more important. The development of technology has improved the overall efficiency of bearing products in the field and extended the product shelf life.
The market trend of 608rs specs?
The cost of 608rs specs raw materials is still the biggest concern for manufacturers. Raw materials account for approximately 60-62% of bearing manufacturers revenue. The price of raw materials for bearings fluctuates continuously according to market economic conditions. Such fluctuations in raw material prices are becoming a real challenge for companies to maintain competitiveness and ensure sustainable profits. As high-grade steel and alloy steel are the main raw materials used to manufacture 608rs specs, bearing prices are highly correlated with global steel price trends. Therefore, fluctuations in the price of raw materials have brought challenges for bearing manufacturers to compare prices and quality to manufacture bearings. In addition, the bearings require regular maintenance to avoid failures and extend their service life, which further increases maintenance costs. Therefore, factors such as raw material price fluctuations and regular maintenance costs are expected to hinder the growth of the bearing market.
About Eric Bearing Limited
Since the establishment of ERIC BEARING LIMITED in 2011, Eric Bearing Co., Ltd. has established partnerships with some distributors who have authorized world-renowned manufacturers, such as Swedish SKF bearings, German FAG and INA bearings, and so on. Compared with other competitors, our 608rs specs price is very competitive, lower than the customer local market. We have more than 8 years of export experience can help you find the ideal purchasing solution. Various brands of bearings have abundant stocks, if you are interested, please feel free to contact us.
Looking for the 608rs specs or get more information about any other bearings, please send an email to firstname.lastname@example.org
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