AMHERST, NY, November 02, 2021– (COMMERCIAL THREAD) –Allied Motion Technologies Inc. (Nasdaq: AMOT) (âAlliedâ or the âCompanyâ), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, today announced the acquisition of ORMEC Systems Corp. (âORMECâ), a developer and manufacturer of critical electromechanical automation solutions and motion control products including multi-axis drives, electronic drives and actuators for the automation and aerospace industries. The acquisition is expected to be accretive to both EPS and Allied’s gross margin profile.
âORMEC is an excellent acquisition that strengthens our technical expertise and adds a higher level of precision motion control systems and solutions to our offerings. In addition to its products, ORMEC designs and manufactures complete electromechanical and software solutions for applications automation. We are very excited to add such an experienced and knowledgeable team to Allied. We look forward to a bright future together as we expand the common business potential by increasing our scale and capacity to take in charge of new applications. âcommented Dick Warzala, President and CEO of Allied.
Founded in 1982 and headquartered in Rochester, NY, ORMEC provides automated motion control systems that integrate motion controllers, logic control, servo motors, servo motors, linear motors, actuators, HMIs and I / O . Dr. Edward Krasnicki, who has served as President and CEO of ORMEC for the past 19 years, will continue to lead the company under Allied.
Dr Krasnicki said, âJoining the Allied team provides additional talents and capabilities to ORMEC to enable us to scale faster and be more competitive. combined with the One Allied approach to providing controlled motion system solutions to its customers, creates an excellent base from which to further expand our reach in the market. “
Terms of the contract are not disclosed.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision and specialty controlled motion products and solutions used in a wide range of industries within our core markets served, including vehicles, medical, aerospace and defense and industry. Headquartered in Amherst, NY, the company has global operations and sells to markets across the United States, Canada, South America, Europe and Asia-Pacific.
Allied Motion focuses on controlled motion applications and is known around the world for its expertise in electromagnetic, mechanical and electronic motion technology. Its products include brushless and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor drives, gear motors, gears, modular digital servo motors. , motion controllers, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, and other products related to controlled motion.
The Company’s growth strategy is focused on being the leader in controlled motion solutions in its selected target markets by leveraging its âtechnology / know-howâ to develop integrated precision solutions that utilize several Allied Motion technologies to âchange the gameâ and create solutions with higher added value for its customers. The Company regularly posts news and other important information on its website at www.alliedmotion.com.
Safe Harbor Declaration
Statements in this press release regarding future plans, events or performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement. that can predict, predict, indicate or imply future results, performance or achievements. Examples of forward-looking statements include, among others, statements by the Company regarding its ability to realize the potential benefits of the ORMEC acquisition and to successfully integrate its operations; expected growth rates and seize market opportunities. Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based solely on the Company’s current beliefs, expectations and assumptions regarding the future of the Company’s business, future plans and strategies, projections, anticipated events and trends, the economy and d ‘other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond the control of the Company. The actual results and financial condition of the Company may differ materially from those indicated in forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, among others, general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting customers and suppliers, competitor responses to the Company’s products and services, the overall acceptance of these products and services by the market, the pace of bookings versus shipments, the ability to grow on new markets and geographies, the success of acquiring new business, the impact of changes in income tax rates or policies, the severity, extent and duration of the COVID pandemic- 19, including the impacts of the pandemic and corporate and government responses to the pandemic on our operations and our pe rsonnel, and on the business activity and demand in our businesses and those of our customers, and on global supply chains; our inability to predict to what extent the COVID-19 pandemic and related impacts will continue to have a negative impact on our business operations, financial performance, results of operations, financial condition, prices of our securities and achievement of our strategic objectives and other factors disclosed in the Company’s periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and we cannot predict when these issues will occur or how they might affect us. The Company has no obligation or intention to publicly release any revisions to any forward-looking statements, whether as a result of new information, future events or otherwise.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211102006317/en/
Deborah K. Pawlowski
Kei Advisors LLC
Email: [email protected]