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Wired News – Allied Motion Purchases Original Equipment Steering Business from Maval Industries

LONDON, UK / ACCESSWIRE / January 23, 2018 / Active-Investors.com has just released a free research report on Allied Motion Technologies Inc. (NASDAQ: AMOT) ("Allied"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AMOT as the Company's latest news hit the wire. On January 19, 2018, the Company declared that it has acquired all of the operating assets associated with the original equipment (OE) steering business of Maval Industries, LLC ("Maval"). Following the acquisition, the business will continue to operate in Twinsburg, Ohio. Register today and get access to over 1000 Free Research Reports by joining our site below:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Allied Motion Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


The acquisition is expected to be neutral to slightly accretive to Allied's earnings in 2018.

Strategic Benefits of the Acquisition

  • The addition of Maval's OE product line will enable Allied to provide a fully-integrated steering system solution. The agreement is also consistent with Allied's strategy to provide higher level system solutions.
  • The acquisition is an excellent strategic fit for Allied as it adds complementary technology and provides deeper customer penetration. It will also help Allied in improving its ability to create more value for customers.
  • The combination of Maval's mechanical products and Allied's electronics, motor, and gearing technologies will provide customers with a streamlined supply base and single point of contact for all their steering needs.

Allied's Last Acquisition

Allied's last acquisition agreement was in January 2016. The Company completed the acquisition of Heidrive GmbH, a Germany-based drive technology and engineering Company, for €20 million (approximately US$22 million). This acquisition provided Allied with many opportunities to advance its growth strategy through new markets, customers, products, and capabilities. The deal also brought Heidrive's complementary product lines and additional technical competencies in customized motor and system solutions to Allied, and also helped the latter to expand its sales footprint and customer base in the German market. The agreement was previously announced in December 2015.

Allied Received Awards for Vehicle Market Solution in 2017

In December 2017, Allied won the nomination for an approximate $65 million award to provide a customer-specific solution for the Company's Vehicle market in Asia and Europe. Revenue for the application is expected to begin ramping up in 2021 and be substantially completed in 2028. This award is in addition to the previously received Vehicle market award of $90 million in May 2017, bringing the total to $155 million received in 2017, an average of approximately $22.1 million per year during a full seven-year period.

About Allied Motion Technologies Inc.

Founded in 1962 and headquartered in Amherst, New York, Allied designs, manufactures, and sells precision and specialty motion control components and systems for the Commercial, Industrial, Aerospace, and Defense markets. The Company has global operations and sells into markets across the United States, Canada, South America, Europe, and Asia.

About Maval Industries LLC

Established in 1987, Maval, a division of Remy Power Products, is a leading provider of both new and remanufactured steering system components for the automotive, off-road, performance, and specialty vehicle markets. The Company is located in Twinsburg, Ohio.

Stock Performance Snapshot

January 22, 2018 - At Monday's closing bell, Allied Motion Technologies' stock marginally dropped 0.82%, ending the trading session at $34.87.

Volume traded for the day: 41.06 thousand shares, which was above the 3-month average volume of 37.75 thousand shares.

Stock performance in the last month – up 4.46%; previous three-month period – up 31.09%; past twelve-month period – up 60.03%; and year-to-date - up 5.38%

After yesterday's close, Allied Motion Technologies' market cap was at $332.31 million.

Price to Earnings (P/E) ratio was at 33.72.

The stock has a dividend yield of 0.29%.

The stock is part of the Industrial Goods sector, categorized under the Industrial Electrical Equipment industry.


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SOURCE: Active-Investors