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.
Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.