MILWAUKEE-- REXNORD CORPORATION (NYSE: RXN) announced today that its Board of Directors has initiated a review of strategic alternatives to enhance shareholder value and has engaged Goldman, Sachs and Co. to serve as its financial adviser in that process. The alternatives considered could include the possible sale of the Company, the possible sale of one or both of its business platforms or the maintenance of the current structure and execution of the existing business strategy.
Rexnord can offer no assurance that it will enter into any transaction in the future, and no decision has been made to enter into a transaction at this time. The Company does not intend to disclose further developments unless and until such time as its Board of Directors has approved a specific course of action, or it otherwise deems further disclosure is appropriate or required.
Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 7,300 associates worldwide. The Process & Motion Control platform designs, manufactures, markets and services specified, highly-engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Additional information about the Company can be found at www.rexnord.com.
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