RBC Bearings Announces the Acquisition of Swiss Tool Systems AG
RBC Bearings Incorporated (ROLL)
Last rbc bearings incorporated earnings: 2/4 08:00 am
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US:NASDAQ Investor Relations:
investor.rbcbearings.com
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Source: Business Wire
OXFORD, Conn.--(BUSINESS WIRE)--Thursday, August 15, 2019 - RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly-engineered precision bearings and components for the industrial, defense and aerospace industries, today announced the acquisition of Swiss Tool Systems AG, from Cross Equity Partners LLP and other private owners for approximately CHF 33.0 million ($33.9 million), to be financed through cash on hand and debt.“Today we are very pleased to announce the acquisition of Swiss Tool Systems AG. Swiss Tools is a leading world-wide supplier of modular tooling systems and high-precision boring and turning solutions for metal cutting machines. Swiss Tools supplies highly engineered products that are complementary to our collets business in Europe and the U.S. to a customer base that we know well and serve daily. Their manufacturing processes and design expertise align very well with and complement those of RBC Bearings,” said RBC Bearings Chairm
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