Baldor Electric buys Northern Magnetics
Baldor Electric Co. announced March 10 that it has acquired Northern Magnetics Inc. (Normag, Santa Clarita, Calif.) for an undisclosed sum payable in shares of Baldor common stock. Normag's range of linear motors will be added to Baldor's motor and drive lines, which range from 1/50 to 800 hp.
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Baldor Electric Co. announced March 10 that it has acquired Northern Magnetics Inc. (Normag, Santa Clarita, Calif.) for an undisclosed sum payable in shares of Baldor common stock. Normag's range of linear motors will be added to Baldor's motor and drive lines, which range from 1/50 to 800 hp.
"This is a perfect fit with our motors and controls. It strengthens our ability to offer customers a wide range of motors and drives," says Roland Boreham Jr., Baldor's chairman.
Baldor report 1997 annual sales of $558 million. Normag had annual sales of just under $10 million during the same year.
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