Urtiss-Wright Sells Benshaw Business To Regal-Beloit For $50 Mln - Quick Facts

(RTTNews) - Curtiss-Wright Corp. (CW) reported selling its Benshaw, Inc. business to Regal-Beloit Corp. (RBC) for $50 million in cash. Moving forward, the business would be considered as discontinued operations.

For the second half of 2014, Benshaw is anticipated to be $0.02 dilutive Regal's earnings per share, inclusive of the impact of purchase accounting adjustments and transaction costs. For 2015, Benshaw is expected to be accretive to earnings per share by $0.06 - $0.09.

Curtiss-Wright acquired Benshaw in 2007. The business has grown into a market leader in the design, development and manufacture of custom electronic motor control and protection product solutions. The development of a medium voltage variable frequency drive, that earned a solid reputation for rugged, reliable performance in a variety of demanding applications is considered to be the key to its success, the company said. Benshaw has estimated annual revenues of nearly $60 million.

The firm would update its full-year 2014 guidance with its next quarterly earnings announcement, tentatively likely to be July 30, 2014.