	rexnord rex sells unit to neoax noax rexnord inc pct owned by banner industries inc bnr following a recent tender offer said it has completed the sale of its fairfield manufacturing co subsidiary to neoax inc for mln dlrs in cash rexnord said it still plans to sell its process machinery division and mathews conveyor co as part of its planned program to divest five businesses with mln dlrs in assets bellofram corp and railway maintenance equipment co have already been sold reuter 
