Merger Could Add 50 Jobs In Searcy
by August 24, 2011 7:00 pm 166 views
A divestiture acquisition between two out-of-state firms could bring 50 new jobs to Searcy.
Earlier this week, Phoenix-based SNTech, Inc. acquired the electric motor product line of Regal Beloit Corp. (RBC) for $23.4 million. RBC is based in Beloit, Wisconsin.
The move was made possible when the U.S. Department of Justice (DOJ) required RBC to divest its domestic business for electric motors for pool and spa pumps to SNTech so that RBC could proceed with plans to acquire the electric motor business of industry giant A.O. Smith Corp.
The acquisition positions SNTech to become one of the major electric motor manufacturers in the pool and spa category.
SNTech manufactures its current lines of motor products in Searcy, Arkansas, and will implement a transition plan to produce its new lines of pool and spa motors at that facility.
SNTech CEO Shannon Bard tells Talk Business that it may be another 90 days before plans for the Searcy facility are finalized, but he expects Arkansas employment to grow as a result of the buyout.
"Preliminarily, we plan to move two production lines from a facility that currently employs 100 people in Juarez, Mexico to where we manufacture our current motors in Searcy," Bard said in an e-mail response. "We anticipate hiring more than 50 people by the first quarter of 2012 to supervise and run the pool and spa motor production lines."