| View printer-friendly version |
| << Back |
|
Allied Motion Acquires Original Equipment Steering Business from Maval Industries
|
|
Founded in 1987 and located in
“We believe this acquisition is an excellent strategic fit with
Given the costs associated with working through a shared services
agreement and completing the production carve-out/separation of the
businesses, the acquisition is expected to be neutral to slightly
accretive to earnings for Allied in 2018. Once the carve-out is
complete, the business will be located entirely within its own dedicated
facility in About
The Company’s growth strategy is focused on becoming the motion solution
leader in its selected target markets by leveraging its “technology/know
how” to develop integrated precision motion solutions that utilize
multiple Safe Harbor Statement
The statements in this news release that relate to 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 may predict,
forecast, indicate, or imply future results, performance, or
achievements, and may contain the word “believe,” “anticipate,”
“expect,” “project,” “intend,” “will continue,” “will likely result,”
“should” or words or phrases of similar meaning. Forward-looking
statements involve known and unknown risks and uncertainties that may
cause actual results to differ materially from the expected results
described in the forward-looking statements. The risks and uncertainties
include those associated with: the domestic and foreign general business
and economic conditions in the markets we serve, including political and
currency risks and adverse changes in local legal and regulatory
environments; the introduction of new technologies and the impact of
competitive products; the ability to protect the Company’s intellectual
property; our ability to sustain, manage or forecast its growth and
product acceptance to accurately align capacity with demand; the
continued success of our customers and the ability to realize the full
amounts reflected in our order backlog as revenue; the loss of
significant customers or the enforceability of the Company’s contracts
in connection with a merger, acquisition, disposition, bankruptcy, or
otherwise; our ability to meet the technical specifications of our
customers; the performance of subcontractors or suppliers and the
continued availability of parts and components; changes in government
regulations; the availability of financing and our access to capital
markets, borrowings, or financial transactions to hedge certain risks;
the Company's ability to realize the annual interest expense savings
from its debt refinancing; the ability to attract and retain qualified
personnel who can design new applications and products for the motion
industry; the ability to implement our corporate strategies designed for
growth and improvement in profits including to identify and consummate
favorable acquisitions to support external growth and the development of
new technologies; the ability to successfully integrate an acquired
business into our business model without substantial costs, delays, or
problems, including the ability to carve out, relocate and separate the
Maval OE business; our ability to control costs, including the
establishment and operation of low cost region manufacturing and
component sourcing capabilities; and other risks and uncertainties
detailed from time to time in the Company’s View source version on businesswire.com: http://www.businesswire.com/news/home/20180119005532/en/ Source: Company: |
