Rexnord Corp. (NYSE: RXN), Milwaukee, WI, has agreed to acquire Cambridge International Holdings Corp. for $210 million.
Cambridge is a supplier of metal conveying and engineered woven metal solutions, primarily used in food processing end markets, as well as in architectural, packaging and filtration applications.
The acquisition will expand Rexnord's presence in consumer-driven end markets.
Rexnord also reported sales for fiscal 2016 of $1.9 billion, a decrease of 6.2 percent compared to the previous year. Profit for the year decreased 19 percent to $67.9 million.
Fourth quarter sales were $492.6 million, a year-over-year decrease of 5 percent. The company reported a loss for the quarter of $0.4 million compared to a profit the prior-year of $32.3 million.
