On Friday, electric motor and generator manufacturer Regal Beloit (RBC 1.63%) announced that it has completed its purchase of France-based Schneider Electric's RAM motor business.
Regal says it expects to generate $20 million in 2013 revenue from its new subsidiary, which manufactures hermetic motors for use in commercial HVAC. Profits should begin arriving next year, with Regal projecting that RAM will add $0.03 worth of profit per diluted share in 2014.
Regal shares reacted positively to the news, closing up 1% Friday at $54.81.
