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The eBearing News
September 14, 2006
RBC Acquires All Power Manufacturing
copyright © 2006 eBearing Inc.
RBC Bearings Inc. (USA; NASDAQ:
ROLL)
announced it has acquired All Power Manufacturing Co. (USA, privately held) for approximately USD $9.3 million cash.
Founded in 2001, All Power is located in Santa Fe Springs, California. Nominally a competitor
to RBC's plain bearing division, All Power manufactures plain bearings,
bushings, spacers, sleeves, and custom precision machined components for the aerospace and general
industrial markets. According to regulatory filings, the company has an affiliated operation in
Tecate, Mexico.
In addition to bearings, bushings and related items, All Power produces machining
coolant, via its Kool Mist Division.
All Power's 2005 sales, according to RBC, were $12.2 million, although no margin or profitability
numbers were offered. The company will become part of RBC's Plain Bearings business operations.
In August, All Power plead guilty and was fined $150,000 plus $20,000 restitution for two 2004
water pollution discharge incidents, the first involving a temporary employee and the second involving
a burst hose. In both incidents, oil-contaminated wastewater ended up in the floor drain, the
storm drain system to Coyote Creek and ultimately the San Gabriel River.
The U.S. Department of Justice press release
Beyond the $150,000 fine, All Power was placed on one year probation. Half the $150,000
will go to support community service projects, including the National Marine Fisheries Service and the
International Bird Rescue Research Center in San Pedro. The $20,000 restitution is to be paid to
the Los Angeles County Department of Public Works and the California Department of Fish and Game,
for expenses incurred responding to the spill.
RBC's Chairman, President, and CEO, Dr. Michael Hartnett, said: "All Power has a long legacy of innovation
in the aerospace market. The company is not only a leader in the production of aerospace components,
but also delivers engineered products to a world class customer base that relies on its design
and manufacturing expertise. This track record of superior processes, quality products and partnerships
with customers will complement and extend our existing product line and enable us to further execute
on our growth strategy."
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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