Baldor Electric Co.
Baldor Electric Co. is a Fort Smith-based designer and manufacturer of industrial electric motors, mechanical power transmission products, drives and generators. Founded in 1920 in St. Louis, Baldor moved its headquarters to Arkansas in 1967. In 2011 it was acquired by tech conglomerate ABB Group of Switzerland for $4.2 billion and continues to operate as Baldor Electric.
Baldor reported 2009 revenue of $1.5 billion and employs roughly 7,500 worldwide (20 locations in the U.S., two in Canada, two in China and one each in England and Mexico). Baldor employs 2,350 in Arkansas, ranking it as the fourth largest manufacturer in the state based on Arkansas employees. It is the seventh-largest publicly traded Arkansas company by revenue.
Baldor's Fort Smith home office supports sales offices and warehouses that stock Baldor products worldwide, selling to distributors and original equipment manufacturers in more than 70 countries. Its products are manufactured at 26 locations worldwide and are available at 76 locations, including 50 in North America.
Baldor's long-term focus has been on energy efficiency, and it was the first in the industry to introduce a line of premium-efficiency industrial electric motors.
The ABB Group of companies operates in about 100 countries and employs about 117,000 people. It offers power and automation technologies for utility and industry customers to improve performance and lower environmental impact. Its purchase of Baldor enabled it to penetrate the American industrial market.
In 2011, Ron Tucker succeeded John McFarland as CEO.
- Governor: Arkansas Will Be in 'Top Tier' of Trading Partners with Cuba
- Nucor to Announce 'Significant' Investment in Mississippi County
- VentureBeat: Fayetteville's Qbox Raises $2.4M
- Allegiance Health Faces Lawsuits, Tax Liens 12 hours ago
- NLR Warehouse Draws $2.9 Million Transaction (Real Deals) 12 hours ago
- Hilton Garden Inn To Keep Reservation in Little Rock 12 hours ago
- Arkansas Panel Moves Closer to Medicaid Proposals (Andrew DeMillo Analysis) 5 hours ago
- Settlement Will Boost One Bank's Capital 12 hours ago