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Regal-Beloit celebrated its most successful year to date in 2006, company officials stated this month.
Company sales reached $1.62 billion, earnings increased 46 percent per share and the company was selected by Forbes as one of the 400 best-managed big companies.
Regal-Beloit is a leading manufacturer of mechanical and electric motion control and power generation products. Regal-Beloit's manufacturing and service facilities are located in the
Regal-Beloit surveyed more than 12,000 of its customers to look at its services and products.
“We then used their direct and candid feedback to set in motion specific programs that are designed to further strengthen our relationships and deliver value for the future,” Hollenbach said.
He said the company is also focusing on digitization, or delivery productivity to customers through digital means and globalization.
One example of the company's focus on digitization is the opening of the
“A key highlight in 2006 was the inauguration of the new
The company also is committed to innovation, bringing new products to market and broadening its other various product lines.
In 2006 alone, Hollenbach said the company had 21 patents granted and has 19 other patents in the process of being approved.
In 2006, Regal-Beloit also acquired Sinya in Changzhou, China, expanded its India operations and started up a new facility in Monterrey, Mexico, all aimed at being able to provide quality and cost effective products.
Another example of the company's commitment to globalization and innovation is its push of Lean Six Sigma throughout the organization. More than 400 people were trained in five countries and 500 projects were tracked monthly.