Generac to acquire Baldor Generators
Generac has announced a purchase agreement for the Baldor Generators subsidiary.
Generac Holdings Inc. announced the signing of a purchase agreement with Baldor Electric Co. a wholly-owned subsidiary of ABB Group, to acquire all of the assets of Baldor's generator products division, Baldor Generators.
Following the close of the transaction, the employees of Baldor Generators will become employees of Generac and the Oshkosh, Wis., facility will become part of Generac's manufacturing footprint. Generac will continue to support Baldor Generators' existing customers and distribution network going forward. The acquisition is expected to close in the fourth quarter of 2013, pending closing conditions. The terms of the transaction were not announced.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey