Waukesha Bearings (Pewaukee, Wisconsin), a division of Dover Corporation (New York, New York), has acquired Federal-Mogul RPB, formerly known as Glacier Rotating Plant Bearings, from Federal-Mogul Corporation (Southfield, Michigan) for approximately USD $31.3 million.

Federal-Mogul acquired the entire Glacier/Clevite Vandervell Bearings operation as part of its 1998 acquisition of British autoparts maker T&N plc. RPB was the last remaining Glacier piece of the acquisition.

Before allowing the T&N acquisition to proceed, the U.S. Federal Trade Commission required that Federal-Mogul divest all of T&N's polymer bearing and thinwall engine bearing operations, meaning the Glacier Vandervell and Clevite businesses. Federal-Mogul was also required to sell off the McConnelsville (Ohio) Strip Facility, which manufactured cast copper-clad strip to make the bearings. Federal-Mogul was only allowed to keep the heavywall bearing businesses.

Federal-Mogul sold the Glacier Vandervell and Clevite polymer and thinwall bearing operations to Dana Corporation (Toledo, Ohio) for a total of $430 million.

In May 2001, Dana sold the Glacier Polymer Bearings division to The BFGoodrich Company (now Goodrich) (Charlotte, North Carolina). Goodrich merged Glacier Polymer Bearings into its Garlock Bearings Division but will keep the Glacier name in the marketplace. Dana still maintains the Glacier and Clevite thinwall engine bearing operations.

In July 2001, Federal-Mogul sold the Glacier Clevite Heavywall Bearings Division in McConnelsville, Ohio to Miba Bearings US, LLC, a division of Miba AG (Laarkirchen, Austria). That transaction is expected to be completed during third quarter 2001. Terms of the sale were not released.

Waukesha Bearings has now acquired the last remaining Glacier division from Federal-Mogul, Glacier Rotating Plant Bearings (RPB).

Glacier RPB was T&N's Whitemetal Polymer and Ceramic Bearings Division.

RPB, headquartered in the London suburb of Northwood Hills, has manufacturing facilities in Glasgow, Scotland and Manchester, England. Waukesha also acquired RPB's Magnetic Bearing design, manufacture and support business, with locations in Shoreham, England and Mystic, Connecticut. Sales for the group in 2000 were approximately $20 million; total employment stands at approximately 215 people.

Waukesha is a leading manufacturer of bearings for a variety of rotating machinery applications, including turbomachinery, motors and generators, industrial, utility, naval and commercial marine industries. Products include tilting pad thrust and journal bearings, sleeve bearings and housings.

Rotating Plant Bearings is a specialist engineering company providing hydrodynamic and magnetic bearing products and services tailored to customers' needs in the power generation, oil/gas, chemical and industrial markets.

Waukesha said it expects strong synergies to develop from the acquisition, both in technology and market coverage. The acquisition of RPB should make Waukesha the world's largest supplier of hydrodynamic fluid film bearings for rotating machinery, now able to also offer the broadest product line.

Federal-Mogul Executive Vice President Wilhelm Schmeltzer said, "We are pleased with this transaction, since it will allow these dedicated employees the opportunity to develop the business as a core activity within Dover Corporation and continue to provide customers with high-quality, leading technology products."

Don Fancher, Waukesha's President, said, "This acquisition is in keeping with Waukesha Bearing's strategic vision to emerge as the leader in the design, manufacture and sales of precision hydrodynamic fluid film bearings. We believe the strengths of this combination offer a great deal of value for our customers in Europe and the USA, and to all of our customers around the world."