Rexnord Corporation is a Milwaukee, Wisconsin-based company listed on the New York Stock Exchange (NYSE: RXN). It was founded in 1891 by Christopher Levalley and incorporated in 1892 as the Chain Belt Company. It enjoyed "$67.5 million in profit and $1.9 billion in sales" in 2016. The company was the focus of a critical investigation by the New York Times .
Rexnord is a multiplatform industrial leader that serves a diverse array of global end markets.
Rexnord's Process & Motion Control platform provides high value, mission-critical solutions. Rexnord bearings, couplings and gears keep industry in motion – from power plants to mining operations. Its conveyor components help make everything from cars to food. And, Rexnord aerospace products can be found throughout aircraft from the engine to the landing gear.
Rexnord's Water Management platform aspires to provide the safest and most efficient water solutions to protect human health and the environment. Rexnord products keep water flowing in hospitals, schools, homes and businesses, and can be found in applications from roadway and roof drainage to dams and hydropower.
The company is operated in a disciplined way with the Rexnord Business System (RBS), a process-based framework for world-class operating performance and continuous improvement.
Rexnord provides direct financial support to the Rexnord Foundation and also offers an Associate Matching Gift program, which helps provide support to a wide variety of organizations. Rexnord Foundation grants and associate volunteerism focus on these areas:
Along with community support, the Rexnord Foundation awards college scholarships to the sons and daughters of U.S. associates.
Rexnord was founded as the Chain Belt Company by inventor Christopher W. Levalley at the age of 58. Levalley, along with Chain Belt co-founders F.W. Sivyer and W.A. Draves, held the first board of directors meeting on September 9, 1891. Chain Belt was incorporated in the state of Wisconsin on February 24, 1892.
In 2016, Rexnord opened its new Water Management platform headquarters in Milwaukee.
In December 2016, President-elect Donald Trump criticized the company for closing its Indianapolis operations affecting 300 out of its 8,000 employees and argued with a union representative.