Baldor Electric Co. sells of power services business

Fort Smith, AR, June 6, 2007 — Baldor Electric Co. announced that it has completed the sale of the Reliance Electric Company Power Services business.
The Power Services business, which represented less than 4% of Baldor’s annual revenues, provides diagnostic support, repair, maintenance, and performance improvement consulting services for electric motors and rotating mechanical power transmission products from 11 different locations in the United States.

Baldor sold the business for strategic purposes, and all proceeds will be used to reduce outstanding debt, said the company. The company also said that the sale will not have a material impact on their balance sheet or results of operations.

The terms of the sale were not disclosed.

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