Rexnord buys Micro Precision Gear Technology

Rexnord buys specialty precision gear maker Micro Precision Gear Tech; terms not disclosed

Associated Press

MILWAUKEE (AP) -- Rexnord, which makes power transmission and water management products, said Friday it acquired Micro Precision Gear Technology for undisclosed terms.

Rexnord Corp. said Micro Precision Gear makes specialty precision gears used by aerospace companies. It said the U.K.-based company has 85 employees and around $14 million in annual revenue.

Rexnord reported $2.01 billion in revenue in its latest fiscal year, which ended March 31.

Shares of Rexnord rose 36 cents to $19.86 on Friday and lost 36 cents to $19.50 in after-hours trading.

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