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RBC Bearings shares zoom on aerospace parts acquisition
2015-03-28 12:41:26| Industrial Machines - Topix.net
Shares of RBC Bearings are up 14% Friday after the industrial manufacturer said it's paying $500 million to buy a unit of Dover Corp., a move that diversifies its product lines and shores up the aerospace business. After the deal, expected to close later this year, RBC Bearings would own Sargent Aerospace & Defense, a unit of Dover that makes parts and provides repair services for airframes, rotorcraft, submarines and land vehicles.
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Category:Industrial Goods and Services