Allied Motion Receives $90 Million Award for Vehicle Market Solution
Allied Motion Technologies Inc. (NASDAQ:AMOT) (“Company”), a global designer and manufacturer of motion control
products and solutions, announced that it recently won the nomination for an approximate $90 million award to provide a
customer-specific solution for the Company’s Vehicle market in Europe. Revenue for the application is expected to begin ramping up
in 2020 and be substantially completed in 2027 at an estimated average of $12 million to $13 million in revenue per year.
“This win is a testament to the effectiveness of the growth investments we have made in our sales and technical resources. It
also demonstrates the industries’ recognition of our leading expertise for developing highly reliable solutions that provide the
critical functionality expected for these applications,” commented Dick Warzala, Chairman and CEO of Allied Motion. “This
significant award for our Vehicle market validates our strategy and further demonstrates the strength of the Allied Motion brand on
a global basis.”
Allied Motion began working on this opportunity in mid-2014.
About Allied Motion Technologies Inc.
Allied Motion (NASDAQ:AMOT), designs, manufactures and sells precision and specialty motion control components and systems used
in a broad range of industries within our major served markets, which include Vehicle, Medical, Aerospace & Defense, and
Industrial/Electronics. The Company is headquartered in Amherst, NY, has global operations and sells into markets across the United
States, Canada, South America, Europe and Asia.
Allied Motion is focused on motion control applications and is known worldwide for its expertise in electro-magnetic, mechanical
and electronic motion technology. Its products include brush and brushless DC motors, brushless servo and torque motors, coreless
DC motors, integrated brushless motor-drives, gear motors, gearing, modular digital servo drives, motion controllers, incremental
and absolute optical encoders, and other associated motion control-related products.
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 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 http://www.alliedmotion.com/.
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; 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 SEC filings. Actual results, events and performance may
differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements as a prediction of actual
results. 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.
Company:
Allied Motion Technologies Inc.
Sue Chiarmonte, 716-242-8634 x602
sue.chiarmonte@alliedmotion.com
or
Investor:
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
dpawlowski@keiadvisors.com
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