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RBC snaps up UKís Phoenix Bearings for $4.5m

23 May, 2007

US-based RBC Bearings has bought the UK manufacturer Phoenix Bearings for around $4.3m in cash. Phoenix, based in Tewkesbury, Gloucestershire, produces ball and roller bearings mainly for heavy-duty applications in industries such as mining, quarrying, steel production, and paper-making.

Phoenix, whose annual revenues are around $4.5m, produces bearings with bore sizes from 100mm to 1m. As well as its specialist products, Phoenix also supplies bearings for general industrial applications such as electric motors, large industrial gearboxes, clutches and couplings. Its customers include Corus, Renold Gears, Flender and David Brown.

"The Phoenix team represents a unique combination of skills and experience, which will offer important benefits to RBC," says RBCís chairman and chief executive, Dr Michael Hartnett. "The company`s technology and expertise in manufacturing large bearings with bore sizes of up to 1m enhances our offering to both existing and new business.

"We are excited to add the Phoenix`s capabilities and products to our portfolio," he adds. "The acquisition is in line with our strategy and goals of continually expanding our base, adding value to our clients, and increasing our value to the marketplace."

Phoenix had its origins in Blackwell Bearings, which was founded more than 50 years ago.

Connecticut-based RBC specialises in highly engineered precision bearings and components. Founded in 1919, the company focuses on highly technical or regulated bearing products requiring sophisticated design, testing, and manufacturing. It currently employs around 1,850 people and has 16 manufacturing sites in three countries.

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