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Rexnord Corporation (NYSE: RXN) has announced a definitive agreement to acquire Hadrian Inc., a prominent manufacturer of washroom partitions and lockers. This acquisition aims to enhance Rexnord's Water Management platform, specifically the Zurn business, by providing a comprehensive washroom solution, improving smart building offerings, and fulfilling its capital allocation strategy. The deal is anticipated to close by the end of December, subject to customary conditions. Hadrian's innovative products will synergize with Zurn's existing systems to create advanced, hygienic washroom solutions.
Rexnord Corporation (NYSE: RXN) will participate in the Melius Research Virtual Industrial Tech & Aerospace Forum on December 9, 2020, at 8:00 a.m. Eastern. The company operates two main platforms: Process & Motion Control and Water Management, employing about 6,400 individuals globally. The Process & Motion Control platform focuses on engineered mechanical components, while the Water Management platform enhances water quality and conservation. Further details can be found on www.rexnordcorporation.com.
Rexnord Corporation (NYSE: RXN) will participate in the Credit Suisse Virtual Industrials Conference on December 2, 2018, starting at 8:00 a.m. Eastern. The company, based in Milwaukee, operates two main platforms: Process & Motion Control and Water Management, employing approximately 6,400 people worldwide. Each platform provides specialized products and services, enhancing water quality and offering engineered components for complex systems. More details can be found at www.rexnordcorporation.com.
Rexnord Corporation (NYSE: RXN) will participate in the Baird 2020 Global Industrial Conference on November 11, 2020. The company, headquartered in Milwaukee, Wisconsin, operates through two platforms: Process & Motion Control and Water Management, employing approximately 6,400 people globally. The Process & Motion Control platform focuses on highly-engineered mechanical components, while the Water Management platform enhances water quality and flow control.
For more information, visit www.rexnordcorporation.com.
Rexnord Corporation (NYSE:RXN) reported net sales of $494 million for the September quarter, a 5% decline year-over-year. Net income was $45 million, with diluted EPS of $0.37, down from $0.46 last year. Adjusted EBITDA was $109 million, representing 22.0% of net sales. The company anticipates a core sales decline of 7% to 11% in the fourth quarter, citing external uncertainties due to the pandemic. Positive growth was noted in Water Management, with sales up 8%.
Rexnord Corporation (NYSE:RXN) has declared a quarterly dividend of $0.08 per share for its common stock, scheduled for payment on December 7, 2020. Stockholders of record as of November 20, 2020 will be eligible for this cash dividend. Rexnord operates with two main platforms: Process & Motion Control and Water Management, employing approximately 6,400 people globally. The company focuses on engineering mechanical components and enhancing water quality and conservation.
Rexnord Corporation (NYSE: RXN) will host a conference call on October 28, 2020, at 7:00 a.m. CT to discuss its September quarter financial results and provide a business update. The financial report will be released after market close on October 27, 2020. Participants need to register in advance for the call and can access a live webcast through Rexnord's investor relations website. Notably, the company is transitioning its fiscal year-end to December 31, 2020, indicating a shift in reporting structure.