SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 8, 2000
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Regal-Beloit Corporation
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(Exact name of registrant as specified in its charter)
Wisconsin 1-7283 39-0875718
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
200 State Street Beloit, WI 53511
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 608-364-8800
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Item 5. Other Events
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The information in the press release dated August 8, 2000 is incorporated by
reference as if fully set forth herein.
Item 7. Exhibits
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99.1 Press Release dated August 8, 2000
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Exhibit Index
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Incorporation by
Exhibit Number Description Reference Herein
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99.1 Press Release dated August 8, 2000 Filed herewith
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
REGAL-BELOIT CORPORATION
By /S/ Kenneth F. Kaplan
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Vice President, Chief Financial Officer
and Secretary
Date: August 10, 2000
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REGAL-BELOIT ANNOUNCES SHARE REPURCHASE PROGRAM
August 8, 2000 (Beloit, WI): Regal-Beloit Corporation (AMEX: RBC) today
reported that its Board of Directors has authorized the Company to repurchase
up to 2,000,000 shares of Regal-Beloit Corporation common stock. The Company
currently has approximately 21,000,000 shares outstanding. The Company plans,
depending on market conditions, to effect purchases from time to time in the
open market or through privately negotiated transactions.
"Given the current market price of our common stock, Management and our Board
of Directors believe this repurchase program to be an excellent opportunity
to support our primary objective, which is to enhance shareholder value for
our long-term investors," said James L. Packard, Regal-Beloit's Chairman,
President and Chief Executive Officer. "This program reflects the optimism
we have in our long-term growth prospects. Repurchases of Regal-Beloit stock
will complement, not replace, our efforts to grow the Company through
strategic acquisitions as well as through internal growth."
Regal-Beloit Corporation is a leading manufacturer of mechanical and
electrical motion control and power generation products serving a broad array
of markets throughout the world. Sales in 1999 were $544.6 million.
Regal-Beloit is headquartered in Beloit, Wisconsin, and has manufacturing,
sales and service facilities throughout the United States, and in Canada,
Europe and the Far East.
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