Motion Industries Set to Acquire Missouri Power Transmission
Motion Industries, Inc. has entered into a definitive agreement whereby Motion Industries has agreed to acquire Missouri Power Transmission. Execution of the transaction is expected to take place March 1, 2016.
Missouri Power Transmission has been a distributor of power transmission equipment and industrial supplies since 1970. The company specializes in chains, sprockets, bearings, seals, electric motors and controls, belting, and related industrial parts. Headquartered in St. Louis, Missouri, Power Transmission services customers from 15 branch and affiliate offices. Their machine shop performs services including gearbox repair, shafting (keyed and plain), welding, and customized machining and millwork.
"We are incredibly excited about the potential this creates for our people, and believe that our future is bright and the opportunities are endless," said Al Dressing, president of Missouri Power Transmission.
"We are very pleased about the addition of this well-established company, which will bolster our power transmission sales and services in the Midwest and beyond," said Kevin Storer, Motion's senior vice president of U.S. Operations.
"We welcome all Missouri Power Transmission employees to the Motion family, and we look forward to the contributions they will make to our Company in upcoming years," added Tim Breen, Motion's president and CEO.
|Motion Industries, Inc.|