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Rexnord to acquire Euroflex
Rexnord has announced that it has entered into a definitive agreement to acquire Euroflex Transmissions (India) Private Limited (“Euroflex”). Euroflex serves global original equipment manufacturers (OEMs) from its base in Hyderabad, India, and has annual revenues of approximately $16 million (USD). Closing is anticipated in November.
Euroflex is a leading supplier of high performance disc couplings, used in power generation, gas compression, and industrial process machinery applications. Founded in 1991, Euroflex has established a strong reputation for engineering and product quality with a growing base of original equipment manufacturers inside and outside India.
“Rexnord is excited to add highly engineered Euroflex products to our expanding portfolio of power transmission technologies,” said Mr Kevin Zaba, President, Rexnord Power Transmission. “Euroflex expands our product offering into higher-speed, turbine-driven applications and accelerates our opportunities in the global power generation and energy markets.”
Euroflex supports Rexnord strategies to accelerate growth by adding complementary products to its leading commercial presence and expanding its global reach.
“Combining the applications expertise of Rexnord and Euroflex creates additional value for customers and enables expanded access into current and adjacent markets,” said Mr Sudhanshu Chhabra, Rexnord President & Regional Executive, India & Middle East. “While expanding Rexnord’s presence in an important developing economy, Euroflex also adds important lower cost manufacturing capabilities.”