Regal Beloit Sells Cutting Tools Business Unit

Regal Beloit Corp. completed of the sale of all the assets of Regal Cutting Tools to YG-1 Co. Ltd. This sale will reduce Regal Beloit's sales by $17 million on an annual basis and will be neutral ot its earnings. "This is a very positive move for the Regal Cutting Tools business as it will be alinged with a world leading manufacturer and marketer of high speed and carbide rotary cutting tools," says Henry W. Knueppel, Regal Beloit's chairman and CEO