Baldor Electric Buzzes Off

Baldor Electric Co. and its stock price are humming along this year after the company doubled in size with the $1.8 billion acquisition of Rockwell Automation’s Reliance division in January.
Baldor sold the Reliance power services division in June without much fanfare in a deal that we hear amounted to around $80 million, a fraction of the company balance sheet but a useful amount toward the company’s stated goal of reducing its debt by $125 million this year.
From what we’re told, Baldor sold the division, which included 12 locations around the country, to avoid competition conflicts with its customers who offer the same type of services.