BELOIT, Wis., Aug. 27, 2021 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC), a global leader in the engineering and
manufacturing of power transmission solutions and high-efficiency
electric motors and systems, is announcing the recent addition of
its new Century® VGreen
Evo™ pool pump motor.
Driven by advanced variable speed technology, the new VGreen Evo
motor is among the most energy efficient pool pump motors in the
industry. Regal's variable speed motors are up to 80% more
efficient than traditional standard single speed
motors.[1] The VGreen Evo motor also enables pool pump
OEMs to comply with more stringent U.S. Department of Energy
efficiency standards, which became effective starting July 19th of this year.
Commenting on the recent launch, Scott
Brown, President – Commercial Systems Segment said "The
Commercial Pump team did a fantastic job developing and launching
the VGreen Evo motor, which allows Regal to help our OEM customers
meet or exceed recently implemented DOE efficiency regulations, and
allows pool owners to have more energy efficient pools with
improved pump functionality, while lowering their pool operating
costs. A great example of how Regal is driving innovation that
lives up to our business purpose of creating a better tomorrow by
energy-efficiently converting power into motion."
Available in both square flange and C-Face pump-mounting
configurations, with a highly durable TEFC (Totally Enclosed Fan
Cooled) enclosure, and engineered as a direct drop-in replacement
for existing induction single speed motors the VGreen
Evo™ variable speed motor is extremely versatile and
supports pool pump applications up to 2.25 total horsepower and
230/115VAC.
The VGreen Evo™ motor was also
engineered for ease of use by designing a simplified user interface
to allow for programming flexibility using a single button. The
motor offers various pre-programmed variable speed operating
schedules, allowing users to optimize the motor to minimize energy
consumption and lower the overall cost of pool ownership.
To learn more about the VGreen Evo™ motor please visit:
https://www.regalbeloit.com/brands/Century/products/pool-and-spa/VGreen-Evo-Variable-Speed-Motor
ABOUT THE COMPANY
Regal Beloit Corporation (NYSE: RBC) is a global leader in the
engineering and manufacturing of electric motors and controls,
power generation and power transmission products serving customers
throughout the world. Our purpose is to create a better tomorrow by
energy-efficiently converting power into motion.
The Company is comprised of four operating segments: Commercial
Systems, Industrial Systems, Climate Solutions and Power
Transmission Solutions. Regal is headquartered in Beloit, Wisconsin and has manufacturing, sales
and service facilities worldwide. For more information, visit
RegalBeloit.com.
CAUTIONARY STATEMENT
Certain statements made in this communication are "forward-looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. This communication contains forward-looking statements,
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, which reflect current estimates, expectations and
projections of Regal Beloit Corporation (the "Company") about the
Company's future results, performance, prospects and opportunities.
Such forward-looking statements may include, among other things,
statements about the Company's future operations, anticipated
business levels, future earnings, planned activities, anticipated
growth, market opportunities, strategies, competition and other
expectations and estimates for future periods. Forward-looking
statements may also include statements relating to the proposed
acquisition of Rexnord Corporation's ("Rexnord") Process &
Motion Control business (the "PMC Business") (the "Rexnord
Transaction"), the benefits and synergies of the Rexnord
Transaction, future opportunities for the Company, the PMC Business
and the combined company, and any other statements regarding the
Rexnord Transaction or the combined company. Forward-looking
statements include statements that are not historical facts and can
be identified by forward-looking words such as "anticipate,"
"believe," "could," "estimate," "expect," "intend," "plan," "may,"
"should," "will," "would," "project," "forecast," and similar
expressions. These forward-looking statements are based upon
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the performance, prospects, or opportunities to differ materially
from those expressed in, or implied by, these forward-looking
statements. Important factors that could cause actual results to
differ materially from the results referred to in the
forward-looking statements the Company makes in this report
include:
Operations and Strategy
- the continued financial and operational impacts of and
uncertainties relating to the COVID-19 pandemic on customers and
suppliers and the geographies in which they operate;
- uncertainties regarding the ability to execute restructuring
plans within expected costs and timing;
- our ability to develop new products based on technological
innovation, such as the Internet of Things ("IoT"), and marketplace
acceptance of new and existing products, including products related
to technology not yet adopted or utilized in certain geographic
locations in which we do business;
- fluctuations in commodity prices and raw material costs;
- our dependence on significant customers;
- effects on earnings of any significant impairment of goodwill
or intangible assets;
- prolonged declines or disruption in one or more markets we
serve, such as heating, ventilation, air conditioning ("HVAC"),
refrigeration, power generation, oil and gas, unit material
handling or water heating;
- product liability and other litigation, or claims by end users,
government agencies or others that our products or our customers'
applications failed to perform as anticipated, particularly in high
volume applications or where such failures are alleged to be the
cause of property or casualty claims;
- our overall debt levels and our ability to repay principal and
interest on our outstanding debt, including debt assumed or
incurred in connection with the Rexnord Transaction;
- our dependence on key suppliers and the potential effects of
supply disruptions;
- seasonal impact on sales of our products into HVAC systems and
other residential applications;
Global Footprint
- actions taken by our competitors and our ability to effectively
compete in the increasingly competitive global electric motor and
controls, power generation and power transmission industries;
- risks associated with global manufacturing, including risks
associated with public health crises;
- economic changes in global markets where we do business, such
as reduced demand for the products we sell, currency exchange
rates, inflation rates, interest rates, recession, government
policies, including policy changes affecting taxation, trade,
tariffs, immigration, customs, border actions and the like, and
other external factors that we cannot control;
- Legal and Regulatory Environment
- unanticipated costs or expenses we may incur related to
litigation, including product warranty issues;
- infringement of our intellectual property by third parties,
challenges to our intellectual property and claims of infringement
by us of third party technologies;
- losses from failures, breaches, attacks or disclosures
involving our information technology infrastructure and data;
Mergers, Acquisitions and Divestitures
- the possibility that the conditions to the consummation of the
Rexnord Transaction will not be satisfied, including shareholder
approvals, that there will be delays in satisfying or adverse
conditions related to the satisfaction of such conditions, or that
the Rexnord Transaction will fail to be consummated or be delayed
in being consummated for other reasons;
- changes in the extent and characteristics of the common
shareholders of Rexnord and the Company and its effect pursuant to
the merger agreement for the Rexnord Transaction on the number of
shares of Company common stock issuable pursuant to the
transaction, magnitude of the dividend payable to Company
shareholders pursuant to the transaction and the extent of
indebtedness to be incurred by the Company in connection with the
transaction; and the determination by the Company and Rexnord of
the number of "Qualifying Overlap Shareholders" at the closing of
the Rexnord Transaction;
- the ability to obtain the anticipated tax treatment of the
Rexnord Transaction and related transactions;
- failure to successfully integrate the PMC Business and any
other future acquisitions into our business or achieve financial
results, operating results, expected synergies and operating
efficiencies, due to factors including the future financial and
operating performance of the acquired business, loss of key
executives and employees, or operating costs, customer loss and
business disruption being greater than expected;
- costs and indemnification obligations related to transactions,
including the Rexnord Transaction;
- risks associated with any litigation related to the Rexnord
Transaction or other transactions;
- unanticipated liabilities of acquired businesses, including the
PMC Business;
- operating restrictions related to the Rexnord Transaction;
- unanticipated adverse effects or liabilities from business
exits or divestitures;
General
- changes in the method of determining London Interbank Offered
Rate ("LIBOR"), or the replacement of LIBOR with an alternative
reference rate;
- cyclical downturns affecting the global market for capital
goods;
- and other risks and uncertainties including, but not limited,
to those described in "Part I - Item 1A - Risk Factors" in our
Annual Report on Form 10-K filed with the U.S. Securities and
Exchange Commission ("SEC") on March 2,
2021 and from time to time in other filed reports.
Shareholders, potential investors, and other readers are urged
to consider these factors in evaluating the forward-looking
statements and are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements included
in this communication are made only as of the date of this release,
and the Company undertakes no obligation to update any
forward-looking information contained in this release or with
respect to the announcements described herein to reflect subsequent
events or circumstances. Additional information regarding these and
other risks and uncertainties is included in "Part I - Item 1A -
Risk Factors" in our Annual Report on Form 10-K filed with the SEC
on March 2, 2021 and from time to
time in other filed reports, including the Company's Quarterly
Reports on Form 10-Q.
[1] Energy savings of 80% or more depends on
variables including user defined speed settings, duration of
operation, environment and any unique hydraulic requirements for
satisfactory pool filtration.
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SOURCE Regal Beloit Corporation