Airex brings a 70 year proven history in advancing electromagnetic solutions, including linear and rotary motor technology
Further enhances Allied’s product offering in key end markets such as Defense, Life Sciences, Semiconductor and other Industrial end markets
AMHERST, N.Y., June 21, 2022--(BUSINESS WIRE)--Allied Motion Technologies Inc. (Nasdaq: AMOT) ("Allied Motion" or the "Company"), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, announced that it has acquired Airex, LLC, a privately-owned company with over 70 years of history providing high precision electromagnetic components and solutions for aerospace/defense, life sciences, semiconductor and other commercial industrial applications. Airex’s patented winding technology combined with robotic manufacturing assures best-in-class quality linear motors – ironless and iron core, rotary motors, voice coils, wound electromagnetic components and sub-components.
"This acquisition is another excellent addition and strategically expands our motor offerings as it brings decades of materials understanding, engineering and lean manufacturing experience focused on providing quick-turn response times and custom solutions to our customers. From a product line perspective, Airex linear motors are the 'Best-in-Class' as they provide the highest torque density in the industry and have been selected and utilized in our Alio solution offerings for many years. Equally important, Airex has developed world-class quality systems to support broad mission critical defense programs and other high demanding industries such as life sciences and semiconductor," commented Dick Warzala, Chairman and CEO. "We are excited about adding Airex’s proven track record and team to the Allied family."
Lindsay Badger, Managing Partner of Airex, stated, "Airex has always been about developing new, high performance and high quality technology for diverse applications. Combining our core competencies with Allied’s, will help support our long-standing customer base in the years ahead and will provide a larger platform upon which to grow."
Established in 1950, Airex is a third generation-owned company headquartered in Somersworth, NH. Throughout its history, Airex has a proven track record of achievement with industry leading partners on leading military and commercial programs. A key to Airex’s success is its engineering design capabilities for magnetic components that are often critical for multiple technologies applicable across many growth end markets.
Airex is expected to be accretive to both Allied’s margin profile and earnings per share in the first year. Financial terms of the transaction were not disclosed.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision controlled motion products and solutions used in a broad range of applications within the Vehicle, Medical, Aerospace & Defense, Electronic, and Industrial Markets. Headquartered in Amherst, NY, the Company has global operations and sells into markets across the United States, Canada, South America, Europe and Asia-Pacific.
Allied Motion is focused on controlled motion applications and is known worldwide for its expertise in electro-magnetic, mechanical, and electronic controlled motion technologies. Its products include nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor-drives, gear motors, gearing, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, Industrial safety rated I/O Modules, Universal Industrial Communications Gateways and other controlled motion-related products.
The Company’s growth strategy is focused on being the controlled motion solutions leader in its selected target markets by leveraging its "technology/know how" to develop integrated precision solutions that utilize multiple Allied Motion technologies to "change the game" and create higher value solutions for its customers. The Company routinely posts news and other important information on its website at www.alliedmotion.com.
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. Examples of forward-looking statements include, among others, statements the Company makes regarding its ability to realize the potential benefits of the Airex acquisition and to successfully integrate its operations; expected rates of growth and capturing market opportunities. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only 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 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 outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the 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 the forward-looking statements include, among others, general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the impact of changes in income tax rates or policies, the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations and personnel, and on commercial activity and demand across our and our customers’ businesses, and on global supply chains; our inability to predict the extent to which the COVID-19 pandemic and related impacts will continue to adversely impact our business operations, financial performance, results of operations, financial position, the prices of our securities and the achievement of our strategic objectives, the ability to attract and retain qualified personnel, the ability to successfully integrate an acquired business into our business model without substantial costs, delays, or problems, 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 it is not possible for us to predict the occurrence of those matters or the manner in which they may affect us. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220621005415/en/
Investor Contact: Deborah K. Pawlowski Kei Advisors LLC Phone: 716-843-3908 Email: dpawlowski@keiadvisors.com
As we move toward the end of Q2, it’s time to start thinking about earnings. Looking back at the quarter, analysts are predicting earnings growth of 8%, which may rise to 11% heading into next year. It’s a rosy picture, but it’s also not a sure thing. GDP contracted in Q1, by nearly 1.5%, and some estimates are showing 0% growth in Q2. Such results would meet the technical definition of a recession – and recession is hardly the usual environment to find robust earnings growth. Looking at current
Nuclear submarine supplier to be sold to US buyer after diplomatic row Russian default expected within days Retail sales volumes down 0.5pc in May FTSE 100 rises strongly Ambrose Evans-Pritchard: The pro-Brussels establishment is painting Brexit as an economic disaster to reverse it Sign up here for our daily business briefing newsletter
“Time is running out for cash-burning companies kept afloat with easy access to capital,” New Constructs CEO David Trainer said in a Thursday research note.
Shares of the specialty pharmaceutical company Bausch Health Companies (NYSE: BHC) are surging today in response to the news that Joseph Papa has resigned from the board of directors effective immediately. Over the past six years, Papa has been instrumental in lowering the company's sky-high debt and keeping it out of bankruptcy court. Bausch said in a statement Thursday evening that billionaire hedge fund manager John Paulson will fill the vacant board position.
Energy prices are high. But bargain-hunter Buffett continues to bet on big oil.
Bitcoin bear markets aren't unusual. But cryptocurrencies have never faced such an aggressive Federal Reserve. Welcome to the crypto ice age.
Yahoo Finance Live anchors discuss the possible acquisition of Zendesk.
When you need another stream of income for retirement, you might consider an annuity. You purchase the annuity from an insurance company and receive payments back at a later date. Before buying an annuity, it's important to consider how much … Continue reading → The post How Much Does a $300,000 Annuity Pay Per Month? appeared first on SmartAsset Blog.
High-yield dividend stocks are a major component of my stock portfolio. Here are three income stocks that have room for solid gains in the next year and even better gains over the long run. The blue-chip business development company (BDC) Main Street Capital (NYSE: MAIN) has held up better than the S&P 500 index, which is down 21% so far this year.
The drop is exciting some Berkshire investors because the stock now trades for 1.3 times Barron's estimate of its June 30 book value, compared with more than 1.5 times at its March high.
(Bloomberg) -- Robinhood Markets Inc. faced a more dire situation during the height of last year’s meme-stock frenzy than executives at the online brokerage let on publicly, according to a report from top Democrats on a key congressional committee. Most Read from BloombergSupreme Court Overturns Roe, Transforming Abortion-Rights FightStocks Roar Back With Best Week in a Month: Markets WrapJustice Kavanaugh Says States May Not Bar Travel to Obtain an AbortionProtest Latest: NY, DC Marches Grow as
Downturns can bring a lot of pain, but they can also bring on plenty of opportunities, as lower stock prices start making costs of entry more attractive. Before taking advantage of these opportunities, however, investors need to find a recognizable signal that will set them apart. One popular signal to follow is the insider buying, the trades made by high-ranking company officers whose positions give them the ‘inside’ track on their company’s likely prospects – and therefore, of the stock’s pros
US stocks rose Friday, with the S&P 500 ending a three-week losing streak as investors digested Federal Reserve officials' latest affirmations that they remained committed to bringing down inflation.
(Bloomberg) -- JPMorgan Chase & Co.’s Marko Kolanovic, a steadfast bull on US equities during this year’s selloff, is calling for stocks to rise 7% next week as pension and sovereign wealth funds rebalance their portfolios.Most Read from BloombergSupreme Court Overturns Roe, Transforming Abortion-Rights FightStocks Roar Back With Best Week in a Month: Markets WrapJustice Kavanaugh Says States May Not Bar Travel to Obtain an AbortionProtest Latest: NY, DC Marches Grow as Justice’s Home TargetedEn
Shares in the biggest U.S. banks rallied on Friday after they passed the Federal Reserve's annual health check, but Bank of America underperformed with test results implying it needs a larger-than-expected capital buffer, which could limit share buybacks and dividends. While the broader equity market also rallied on Friday, Wells Fargo & Co, up 7.5%, was the biggest gainer among the 34 lenders that underwent the Fed's so-called stress test, which measures how they would fare in a hypothetical severe economic downturn. The group would have roughly twice the capital required under Fed rules in the downturn scenario, it said.
Shares in Polestar Automotive Holding UK PLC jumped 16% on their first day of trading Friday, after the Swedish electric-vehicle maker completed a merger with a special-purpose acquisition company amid plans to expand globally. Polestar agreed to be acquired by blank-check company Gores Guggenheim in September. The auto maker is a unit of Volvo Car AB, which in turn is owned by Zhejiang Geely Holding Group Co. of China.
Arrived Homes, the single-family real estate investment platform backed by Amazon.com Inc. (NASDAQ: AMZN) founder Jeff Bezos, is ramping up its acquisitions as demand from retail investors grows stronger for fractional real estate. In the past 30 days, the platform has fully funded approximately $11 million worth of rental properties, compared to $5 million for the entire first quarter of 2022. The number of investors using Arrived Homes has doubled in the last two months, making it difficult fo
DEEP DIVE Companies announce dividend increases all the time, but here’s one that points to a simple investing strategy that can lower your risk and make you a lot of money over the years. Maybe it isn’t so exciting on the surface: Kroger Co.
Shares of Meta Platforms (NASDAQ: META), the parent company of Facebook, were rising quickly today on seemingly no company-specific news. Instead, a rebound in the tech sector appears to be sending Meta's stock higher today. The tech stock had gained 5.8% as of 1:22 p.m. ET on Friday.
Bill Northey, U.S. Bank Wealth Management Senior Investment Director, and Jason Draho, UBS Global Head of Americas Asset Allocation and Chair of the U.S. Investment Strategy Committee, sit down with Yahoo Finance Live to talk about the Fed's interest rate hikes, inflation, and how markets may react to future economic data.